Vietinbank finances $200m to develop Dai Hung oilfield
PetroVietnam Exploitation and Production Corp (PVEP)’s general director, Nguyen Vu Truong Son, and director of Vietnam Commercial Joint Stock Bank for Industry and Trade (VietinBank-CTG)’s Hanoi branch, Nguyen Van Thang, on May 24 signed a credit contract to finance for Dai Hung oilfield development project, at Lot 05-1(A) offshore Vietnam.
Accordingly, VietinBank pledged to provide a seven-year loan worth $200 million for PVEP to invest in the project run by PetroVietnam Domestics Exploration Production Operating Co Limited (PVEP POC).
The Dai Hung oilfield lies at a water depth of 361ft off the shore of Vietnam. The field is located in Block 05.1A about 265 kilometers south of Ba Ria-Vung Tau province. The daily capacity of the field is 6,300bopd and 4.32mmcfd. The estimated life of the field is until 2025.
Tags: Dai Hung oilfield, Vietinbank
Posted by VBN on May 25 2011. Filed under Banking-Finance, Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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