Petrovietnam signs deal with Doosan-PECC2 consortium

The consortium comprises South Korea's Doosan Enerbility Co., Ltd. and Vietnam's Power Engineering Consulting JSC 2 (PECC2).

The O Mon IV thermal power plant is a component of the Block B-O Mon Gas-to-Power project, which includes offshore gas extraction at Block B, a gas pipeline system, and a thermal power complex in the Mekong Delta city of Can Tho.

The venture holds strategic importance in exploiting, transporting, and making efficient use of gas resources in the southwestern region, contributing to ensuring national energy security and providing stable electricity for the area. However, the venture has encountered several difficulties for the past two decades, which have greatly affected its overall progress.

Under the direction of the government, ministries, and localities, Petrovietnam has so far completed the selection of the main EPC contractor through an open, transparent, and international bidding process.

The venture will use the modern combined cycle gas turbine technology with a designed capacity of 1,155 MW. It is scheduled to start operations by December 2028.

Once completed, the O Mon IV thermal power plant will boost Petrovietnam’s total installed power capacity to over 9,300 MW, making up for about 10 per cent of the national power capacity. The venture will supply clean and reliable electricity to the Mekong Delta region and create a spillover impact to entice investments.

Hyeonho Lee, CEO of Doosan Enerbility's Plant EPC Business Group, said, "The EPC contract for the O Mon IV thermal power plant marks an important milestone in cooperation between Petrovietnam and the consortium. With a track record of successful projects, the Doosan-PECC2 consortium will make the most efforts to complete the O Mon IV thermal power plant on schedule with the best quality."

Vietnam Oil and Gas Group has achieved remarkable milestones in business and production, driven by effective volatility management strategies.

To facilitate the goal of divesting from PVI before the end of 2025, Vietnam National Oil and Gas Group (PetroVietnam) has hired a consulting firm to implement the plan.

Energy companies from Malaysia, Singapore, and Vietnam signed an agreement on May 26 to explore exports of renewable electricity.