Petrovietnam leader meets US Oil Companies on the occasion of US – ASEAN Special Summit

It is the first time US - ASEAN Special Summit was held in the United States with the participation of leaders of ASEAN countries with an aim to build and enhance the relations between US and ASEAN in the framework of US - ASEAN strategic partnership to a new level regarding politics, security, economy and cooperation priorities in regional, global and trans-national scope for a peaceful, stable and prosperous ASEAN community.

Petrovietnam President & CEO Nguyen Quoc Khanh at the meeting with Ms. Linda D. DuCharme, Vice President of ExxonMobil Gas & Power Marketing

In the framework of the business trip, President & CEO Nguyen Quoc Khanh had meetings with some US oil companies to exchange and update the cooperation projects between the parties and to furtherly enhance the cooperation in the coming time. At the meeting with Ms. Linda D. Ducharme, Vice President of ExxonMobil Gas & Power Director Marketing, leaders of the two Groups affirmed that Blue Whale Project under PSC contract for Blocks 117-118-119 offshore Vietnam was important to the Group and ExxonMobil. The project development not only brings benefits for Petrovietnamin particular and Vietnam in general but also demonstrates long-term commitment of ExxonMobil for cooperation in Vietnam on the basis of mutual benefit. In order to realize important issues agreedin the Project Development Framework Agreement, leaders of the two Groups agreed to closely coordinate and positively exchange on trade agreements, technical conditions and finalizing the outline development plan (ODP) and submit to authorities for approval as basis for consequent field development. The key issues to be discussed and agreed in the coming time to obtain commercial gas flow as soon as possible include the size and scope of the project chain, conditions of gas purchase agreement, initial price of gas, formula of gas price, gas consumption, gas use factor, construction sites of gas treatment plant, power plant and schedule for operating power plants to determine appropriate gas production.