Dung Quat I, III Gas fired power investment decisions

Vietnam Deputy Prime Minister Trinh Dinh Dung has the Dung Quat I & III gas fired power investment Decisions No. 1461 & 1460 / QD-TTg dated 25 October 2019. Two gas power plants in Dung Quat EZ to input gas flow from the Blue Whale field.

Investor: Vietnam Electricity (EVN).

Capacity: 02 x 750 MW (natural gas-fired combined-cycle)

Total investment: 18.663,679 billion VND (Dung Quat gas fired power I). 17.58,76 billion VND (Dung Quat gas fired power III).

Start Construction: Dung Quat I (Jan 2021). Dung Quat III (Jan 2022).

Commercial Operation: Dung Quat I (Dec 2023) Dung Quat III (Dec 2024).

April 29, 2020

Saipem has completed 02 Blue Whale 's FEED packages and handed over to the operator for the next step, prepare and submit for approval of the Field Development Plan (FDP). The scopes of work that ExxonMobil and partners under Production Sharing Contract (PSC) including PVN and PVEP, have been performing for Blue Whale project, as follows:

1/ Geological & geophysical survey, onshore and offshore (done)

2/ Environmental impact assessment (ESHIA & EIA) (done)

3/ Clearance and site preparation for gas treatment plant (GTP), condensate storage (done)

4/ Adjustment progress, implementation plan (to update FDP), and investment milestone (done)

5/ Capital arrangement plan of ExxonMobil, PVN and PVEP in the project chain (being discussed)

6/ Government Guarantee Undertaking Agreement (GGU), and Gas Sale Agreement (GSA) with 3 power plant investors (11st negotiation)

7/ FEED design: Saipem (done)

8/ Article 6.2.9 of the PSC Contract on redetermination of pending period from November 30, 2017 to November 29, 2019 (waiting for approval)

9/ FDP: in 2020 (approval by MOIT)

10 / FID: in 2020 (or early 2021) approval by Viet Nam PM.

The bidding schedule for 2 international packages of EPC (onshore) and EPCIC (offshore) according to FEED design, will likely take place in parallel as tentative plan, as belows:

+ EPC/EPCIC ITB: June 2020

+ EPC/EPCIC Contract Awards: December 2020

+ EPC/EPCIC Performances: 2021 to June 2024

+ Commissioning: July to Oct 2024

+ Handover/commercial operation: November 2024