PetroVietnam Selects Engineering Firm to Begin FEED Work on Vietnam's Second Refinery

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Researched by Industrial Info Resources (Sugar Land, Texas)--Vietnam Oil and Gas Corporation, also known as PetroVietnam Corporation, has selected Foster Wheeler Energy Limited (Reading, United Kingdom), a subsidiary of Foster Wheeler (NASDAQ:FWLT) (Clinton, New Jersey) to perform front-end engineering design (FEED) work for the proposed $6.2 billion, 10 million-ton-per-year (about 214,000 barrels per day (BBL/d)) crude oil refinery in Thanh Hoa, Vietnam. The refinery will process Vietnamese (Bach Ho) crude oil and Middle Eastern (sweet/sour) crude oils. The FEED work is expected to continue through late 2009. Construction is expected to begin in fall 2010 and take about three years to complete.

PetroVietnam, established in 1975, is currently building Vietnam's first crude oil refinery, the Dung Quat Refinery, which is expected to start up in early 2009. Technip (OTC:TKPPY) (Paris) and JGC Corporation (TYO:1963) (Chiyoda, Tokyo) will perform engineering, procurement and construction services in a joint venture for the Dung Quat Refinery, which is being built in Quang Ngai province. The refinery will include a 130,000-BBL/d crude and vacuum unit, hydrotreaters, 60,000-BBL/d residual catalytic cracking unit, sulfur recovery unit, gas plant, 20,000-BBL/d continuous catalytic reformer, and a 6,500-BBL/d isomerization unit. The Dung Quat and Nghi Son refineries will supply 70% of the country's demand for petroleum products. In addition, a private investor is planning to build a third refinery in Vung Tau, which is closer to the Su Tu Den oil fields.

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