BP to invest $2b in Vietnam<\/p>\n
HANOI (AFP): British Petroleum plans to invest US$2 billion to
\ndevelop gas infrastructure in Vietnam by the end of the century,
\nthe company's local manager said in an interview published
\nyesterday.<\/p>\n
"To exploit gas that has been found, we expect to spend $1
\nbillion on production facilities offshore and for an undersea
\npipeline, and another $1 billion in facilities to make use of the
\ngas, such as power or fertilizer plants," Michael Yeldham told
\nthe local Nhan Dan newspaper.<\/p>\n
To date, BP has spent $330 million exploring the Con Son Basin
\nfield, which is estimated to have gas reserves of around 60
\nmillion cubic metres (2.1 trillion cubic feet), or enough to
\nprovide power to Ho Chi Minh City for 25 years.<\/p>\n
Another $30 million has been invested in a lubricant joint
\nventure with Vietnamese state firm Petrolimex, which is expected
\nto begin operations in 1996 and produce 50,000 tons a year.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bp-to-invest-2b-in-vietnam-1447893297",
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"sponsor": "Okusi Associates",
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