Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (68177)	1/23/2003 7:49:23 PM
From: John Carragher	Read Replies (1) \| Respond to of 281500

Operations BP has operated in Vietnam since 1989. Today, our business operations cover oil and gas exploration and production, the production and distribution of lubricants and Liquid Petroleum Gas (LPG), the provision of gas oils and jet fuels, including operating a re-fuelling service for the national airline outside Vietnam, and the distribution of chemicals and solar power systems. Our operations are conducted under the BP and Castrol brands. BP is the only foreign oil company in Vietnam to have active operations in both the Exploration and Production (Upstream) and Refining and Marketing (Downstream) sides of the oil business. This helps to create a strong competitive edge for BP in a country full of potential and opportunities – rich in hydrocarbon resources and with an energy market that is growing strongly. BP's main activity is as operator of and major shareholder in the Nam Con Son gas project, a US$ 1.3 billion integrated gas-to-power project currently under construction onshore and offshore in Baria Vungtau Province in the South of Vietnam. The project is centered on the development of Lan Tay and Lan Do gas fields with estimated reserves of 2 trillion cubic feet (tcf); sufficient for generating 12 billion kWh of electricity or 40% of Vietnam’s current power needs each year. The project also includes the construction of a 400-km pipeline and accompanying facilities to bring the gas ashore; and the construction of a 700 MW gas-fired plant for power generation. The first gas is expected before the end of 2002.