Vietnam's pipeline project

Vietnam's pipeline project

HANOI (DPA): Vietnamese officials will sign agreements next
Wednesday with a consortium of foreign investors led by British
Petroleum for a pipeline project that forms part of a US$1.5
billion exploitation scheme, a government minister said Friday.

All documents related to the Nam Con Son project, a business
cooperation contract (BCC) between the consortium, the government
and state-run PetroVietnam, will be signed December 6, Minister
of Planning and Investment Tran Xuan Gia told reporters in Hanoi.

"All documents and agreements on the project will be finalized
and the licenses granted on that occasion," Gia said.

The documents are to be signed in the presence of visiting
British Minister of State John Battle, Gia said.

The $580-million Nam Con Son BCC, initialed last October,
involves Norway's Statoil, Amoco of the United States, and
India's ONGC-Videsh Ltd.

It would deliver some 2.7 billion cubic metres of gas annually
via a 390-kilometer offshore pipeline to mainland power stations
and generate 13 billion kilowatt hours.