PVG: Business cooperation contract

On 23/12/2013, PetroVietnam Northern Gas Joint Stock Company announced information on business cooperation contract with PetroVietnam Low Pressure Gas Joint Stock Company as follows:

- Total investment of the project: about VND 400 billion

- Contribution rate: 50%:50%

- Exercise time: From Quarter I/2014

- Details:

+ System of collecting and distributing gas from Ham Rong pit and Thai Binh pit of batch 102&106. Recoverable reserves 2P of pit are about 4,342 billion Sm3 gas. Pits are about 16 km from land to the East (Tien Hai – Thai Binh) (Sm3 – Standard cubic meter);

+ Annual stable output is about 200 million Sm3/year, continuously in about 20 years.

+ Gas from Ham Rong – Thai Binh pit to land is distributed in 2 main system.

HNX

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