KPC to get Vietnam offshore exploration licence
Hanoi, September 22, 2009
Vietnam plans to award Kuwait’s state-owned Kuwait Petroleum a licence to explore for oil and gas off the country's coast, state oil monopoly Petrovietnam said on Tuesday.
Petrovietnam told visiting Kuwait Oil Minister Sheikh Ahmad al-Abdullah al-Sabah it had proposed that the government award the offshore block 51 to KPC under a production-sharing contract, the oil group said in a statement.
KPC already has two licences for two nearby blocks 19 and 20, Petrovietnam said.
Sheikh Sabah is scheduled to inspect on Tuesday the site of Vietnam's second refinery project in Nghi Son in the northern province of Thanh Hoa.
KPC has a 35.1 per cent stake in the $8-billion 200,000-bpd refinery venture, while other parties are Japanese refiners Idemitsu Kosan and Mitsui as well as Petrovietnam. – Reuters
More Energy, Oil & Gas Stories
- Aramco awards Midyan project to L&T
- Taqa looking at share options
- Aramco seeks bids for power plant
- Qatar sets up $1bn energy infrastructure fund
- Sembcorp inks Oman utilities JV project
- Saudi diesel import set to hit record levels
- $1bn Salalah IWPP opened officially
- Saudi oil exports plunge in March
- Kuwait replaces top oil sector officials
- Iran to boost diesel exports to Iraq