Exxon Mobil Exxon Mobil said last year it had made a discovery in Vietnam, and that resource additions from the U.S., Canada, Australia, Indonesia and Vietnam had added 4.1 billion oil- equivalent barrels to its resource base, without specifying the quantity from each country mentioned. “It is one of the biggest gas discoveries in Vietnam,” said Hau, who estimated the reserve at between 6 trillion and 8 trillion cubic feet. Vietnam’s proved natural gas reserves at the end of 2012 were 21.8 trillion cubic feet, according to the BP Statistical Review of World Energy. “Unfortunately it’s a bit contaminated with CO2, but it’s still commercial, it’s still viable to develop,” said Hau, who estimated the discovery’s carbon dioxide content at about 30%. Plans call for bringing the gas ashore in a pipeline, according to Hau, who said PetroVietnam is working actively with Exxon Mobil to start the implementation of a first phase. “We start working on the masterplan, with the commercial scheme,” Hau said. Later on we’ll talk about an MOU and talk about the main principles for gas pricing. “I do hope that if both sides will be active on that, then we may have first gas maybe late 2020.” Exxon Mobil Texas-based spokesman David Eglinton declined to comment by e-mail. Bloomberg
NEN Price at posting:
26.0¢ Sentiment: Buy Disclosure: Held
