Leaders of the three sides at the signing ceremony
Accordingly, from the date of signing this deal, all rights and responsibilities of PetroVietnam as buyers will be transferred to PV Gas. POT continues to act as the company receiving the authority of Tuna gas field owners to sign and realize cooperative contents with the two partners.
PV Gas and POT will start negotiating framework agreement to buy and sell gas in January 2019 with the goal of signing the deal in the third quarter of 2020, and the first Tuna gas will run to Vietnam in the third quarter of 2024 with a minimum gas volume of 3.3 million cubic meters a day.
The Tuna gas block is located on the territorial waters of Indonesia, about 110 meters deep, bordering Vietnam to the southwest of the Lan Tay field, including Kuda Laut and Singa Laut fields, with an estimated reserve of more than 10 billion cubic meters.
The successful negotiation of gas contract from Tuna is expected to help PV Gas add more than 10 billion cubic meters to its declining gas supply to consumers in the Southeast region from 2024.
It will also lay the premise for the import of gas by pipelines to Vietnam from neighboring areas, and connection with other sources of gas in the future./.