Vietnam Presents Great Wind and Solar Power Generation Opportunities
Posted on : 29 Aug, 2013
Being one of the fastest growing economies in the region, Vietnam’s average annual growth rate for electricity is expected to be between 11-16% until 2020. Known for its potential in renewable energy power generation in Southeast Asia, a large fraction of Vietnam’s electricity is produced by renewables energy, with nearly 40% of its total installed capacity generated by hydropower.
According to Saigon Times, Vietnam Electricity Investment and Construction Joint Stock Company (EVNIC) has been approved to build a 40.5 megawatt wind power farm in Vietnam’s south-central coastal province of Ninh Thuan this year. This project, which costs an estimated USD 3.2 million in investment, is expected to produce about 14 million kWh of electricity annually. The second phase of the project is slated to be developed from 2014 to 2015. Ninh Thua, considered as a high potential region for wind power development, is expected to reach total exploitation capacity of 2,000 MW by 2020. There are currently 60 registered projects for wind power under development and a number of solar projects are also under operation.
Given the current market conditions, Vietnam presents great opportunities for investors looking to negotiate with the end-user for a higher tariff, particularly for wind or solar hybrid projects. Mr. Le Viet Trung, Deputy Director, Research Center for Petroleum Economics & Management, Vietnam Petroleum Institute will be on hand at CMT’s 15th VOGP 2013, on the 12-13 Sep, 2013 in Ho Chi Minh City to share all about Vietnam’s ‘Renewable Energy Plans and Prospects’ specifically on clean energy developments in hydro, solar and wind energy, eco-power supply and projects as well as renewable energy subsidies.
For more information about the event, please contact Ms. Huiyan at email@example.com or Tel. +65 6346 9113.
Read more: Another wind power project for Ninh Thuan
Vietnam’s oil & gas stay upbeat with extended agreement with China and third prospect in Block 120
Posted on : 09 Jul, 2013
In view of increasing chances in oil and gas discovery and enhancing bilateral cooperation efficiency, Vietnam and China have entered an extended agreement in the joint exploration for oil and gas in the Gulf of Tonkin. The deal was inked during the State level visit to China by President Truong Tan Sang in June.
The agreement signed between Vietnam Oil and Gas Group (PetroVietnam) and China National Offshore Oil Corp. (CNOOC) will see to the extension of the agreement till 2016 as well as an expansion of the exploration area from 1,541 square kilometers to 4,076 square kilometers, with both parties splitting the operational responsibilities and costs equally. The agreement has been amended three times and despite the lack of reliable findings in commercial oil & gas, both sides have collected essential data of potential resources in the area.
While new co-operation continues to headline the oil & gas industry, positive exploratory news has been released by Eni Vietnam BV at offshore Block 120. The third prospect has been identified via 3D seismic program with positive data revealing gas potential. This newly-identified gas potential, Ca Ngu, together with Rua Bien and Ca Lang, proves to be “a candidate for drilling of the first exploratory well”.
Drilling in Block 120 is expected to begin September this year with prospects in both oil and gas.
Oil & gas majors will convene in Ho Chi Minh City, Vietnam, this September 12-13 at the 15th VOGP 2013 for more updates and discussions on Vietnam’s oil & gas sector developments and opportunities.
For event inquiries, please contact Ms. Huiyan at firstname.lastname@example.org or Tel. +65 6346 9113.
Pan Pacific Petroleum to begin offshore oil & gas well exploration in Block 121 and Block 07/03
Posted on : 07 Jun, 2013
June 2013 marks an important date for industry leader, Pan Pacific Petroleum (PPP), as the drilling in offshore of southern Vietnam, begins. Participating players in the Block 121 joint venture include a PPP wholly owned subsidiary – Pan Pacific Petroleum Vietnam (121), Origin Energy and Premier Oil in a 15-45-40 distribution. The “Ocean General”, a semi-submersible drilling rig to be operated by Origin Energy, will be used to drill in the Ca Voi-1X well, targeting the large Ca Voi (Whale) Prospect which “has been estimated to hold between 40 million and 200 million barrels of oil”.
The “Ocean General” will follow through drilling projects in two wells in Block 07/03 which has similar geological prospect with Block 121. Participating players in this project include PPPV, Premier, Vamex, Pearl and PVEP in a 5-30-25-25-15 distribution, with Premier being the operator in this project.
These high potential exploration projects hold intense industry interest as Block 121 contains significant potential while Block 07/03’s CRD-1X discovery well, drilled in June 2009, is known for the production of “3,265.4 barrels of oil and 8.1 million standard cubic feet of gas per day from two zones in the Miocene sands”.
Keep yourself updated on the development and opportunities in Vietnam and the region at CMT’s 15th VOGP Summit, scheduled in Ho Chi Minh City on September 12-13, 2013.
More details on the event will be coming soon. For enquiries, please contact Ms. Huiyan at email@example.com or Tel. +65 6346 9113.
Read more: Origin prepares to spud Vietnam well