Nan Con Son Gas Development
BP and its partners Statoil and OGNC had made two large gas discoveries offshore Vietnam. It was realised that this gas could be used to generate electricity to support the growing demand in Vietnam. PDC was invited by the World Bank to provide a proposal to support the development of the Phu My 2.2 Power Plant by assisting in the purchasing of gas from BP and its partners. PDC won an international tender to carry out this work.
However at this stage in 1999 negotiations between the BP group and the state oil and gas company had become stalled. Without a contract for delivery of gas from the BP group there would be no gas available for the power station. With agreement between the World Bank and Petrovietnam, PDC was also involved in the negotiations for the offshore contract.
Over a period of nine months PDC was actively involved in the negotiations and succeeded in materially advancing the negotiations. At the time total foreign investment in Vietnam was around $200 million. The total investment for the offshore gas fields, a 400 km two phase offshore pipeline, a terminal and the power station was $2.5 billion.
The project came into production in November 2002 and now supplies 40% of electricity demand in Vietnam.