Saudi Aramco and PTT eye Vietnamese project

Companies join forces to submit proposal for $22bn project

The project is expected to take six to seven years to complete.
The project is expected to take six to seven years to complete.

RELATED ARTICLES: Saudi Aramco attracts shale interest | Saudi Aramco chief: US shale not a threat | Saudi Aramco outlines $40bn capacity investment

The Thai energy company PTT has joined up with Saudi Aramco to submit a proposal to build a $22bn petrochemical and chemical complex in Vietnam, according to Reuters.

Aramco and PTT would each own 40% of the complex that will be built at Binh Dinh’s Nhon Hoi economic zone, Atikom Terbsiri, PTT senior executive vice president, said.

The Vietnamese government will own the remaining 20%.

“Aramco will help supply crude to an oil refinery with capacity of 400,000 barrels per day,” Atikom commented, adding that PTT-owned Thai Oil and IRPC will also join the project.

The Vietnamese's trade and industry ministry will consider the proposal, which will be discussed with Thai Prime Minister Prayuth Chan-Ocha, who is due to visit Southeast Asian countries in the coming months, Terbsiri said.

The project includes an olefins and aromatic petrochemical plants with combined capacity of 5mn tonnes a year.

It is expected to take six to seven years before the complex is fully operational.
 

Webinar - Register to attend: Oil & gas at a digital tipping point

In partnership with leading global engineering company ABB. The webinar is free but can only be accessed by registering below in advance.

Newsletter

Most Popular

Digital Edition

Oil & Gas Middle East - July/August 2020

Subscribe Now