PetroVietnam Acquires Chevron's Upstream Vietnamese Projects, Seeks to Produce More Natural Gas

SUGAR LAND--June 22, 2015--Researched by Industrial Info Resources (Sugar Land, Texas)--State-owned PetroVietnam (Hanoi, Vietnam), which is aggressively pursuing an increase in its natural gas output, announced it had acquired last week the upstream Vietnamese assets of Chevron Corporation (NYSE:CVX) (San Ramon, California). PetroVietnam will assume control of Chevron's stakes in three offshore blocks in the Malay Basin off the coast of southwestern Vietnam, and a pipeline connecting them to the O Mon Power Plant in southern Vietnam. Within this article: Details on PetroVietnam's plans and related projects, including the Nam Con Son II natural gas-processing plant and pipeline.