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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden) -- Ignore unavailable to you. Want to Upgrade?

To: Greywolf who wrote (2623)	7/9/2001 8:27:24 PM
From: Tomas	Read Replies (2) \| Respond to of 2742

Lundin Oil: Vietnam pipe plans Upstream, July 9 Vietnam's state energy company Petrovietnam said today it was planning a $200-million pipeline to bring gas ashore from a southern block shared with Malaysia. A PetroVietnam official said the company planned to start taking gas from Lundin Oil's PM-3 Bunga Kekwa phase-two development in the Vietnam-Malaysia Commercial Arrangement Area, about 600 kilometres south-west of Ho Chi Minh City, starting in 2005. The official said that Petrovietnam will be the main investor but would also be seeking foreign investment for the project. He added the pipeline would transport gas to a urea and power complex in Ca Mau province in the far south of Vietnam. The official gave no further details but state-run Vietnam Investment Review said a feasibility study for a 280-kilometre pipeline had been submitted to the government last week, Reuters reported The newspaper quoted an official from the Planning and Investment Ministry as saying the pipeline would be designed with an annual maximum transmission capacity of 2 billion cubic metres of gas. Malaysia's Petronas Carigali has a 46.06% stake and Lundin holds 41.44% of block PM-3. Petrovietnam owns 12.5%.