ExxonMobil, PetroVietnam and PetroVietnam Exploration Production Corporation Advancing Integrated Gas-For-Power Development in Vietnam
January 30, 2019 at 01:00 pm
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ExxonMobil, with joint venture partners PetroVietnam and PetroVietnam Exploration Production Corporation announced that it is advancing plans for a multi-billion dollar integrated gas-for-power development in central Vietnam. The company has awarded the contract for front-end engineering and design, and is filing appropriate permits, planning applications and other preparatory work for the proposed development. If approved, ExxonMobil will lead the construction and operation of the project, which will produce and treat natural gas from the Ca Voi Xanh field, located offshore in block 118. The proposed project consists of an offshore platform, a pipeline to transport the gas to shore, an onshore gas treatment plant and pipelines that feed gas to third-party power plants to generate electricity locally. Vietnam Electricity, PetroVietnam and Sembcorp are in discussions to build and operate the power plants. The proposed base development is expected to generate three gigawatts of power, equivalent to about 10% of Vietnam’s current total power demand. A final investment decision, targeted in 2020, will be based on a number of factors, including regulatory approvals, government guarantees, executed gas sales agreements and economic competitiveness.
Exxon Mobil Corporation is an oil group organized around 3 areas of activity:
- refining and distribution (85.8% of net sales): 5.5 million barrels of oil products (diesel fuel, gasoline, fuel oil, lubricants, motor oils, etc.) sold per day in 2023;
- exploration and production of hydrocarbons (7.6%; worldwide leader): 2.4 million barrels of oil produced per day and 219.1 million m3 of natural gas produced per day;
- petrochemical (6.6%): primarily oils, aromas, alcohols, ethylene, elastomers, propylene, and polymers (19.4 Mt sold in 2023) for the pharmaceutical, cosmetic, textile, electrical, etc.
Net sales are distributed geographically as follows: the United States (38%), Canada (8.7%), the United Kingdom (7%), Singapore (4.6%), France (4.4%), Australia (3%), Belgium (2.9 %), Germany (2.8%) and other (28.6%).
EXXON MOBIL CORPORATION 
