PetroVietnam Improves Gas Collection With Southeast Clean Development Deal

Text of report in English by Vietnamese news agency VNA website

[Unattributed article from the "Business-Finance" page: "PetroVietnam Signs Deal on Rang Dong CDM Project"]

Hanoi (VNA) -The Vietnam Oil and Gas Group (PetroVietnam) on February 29 signed an agreement on the Rang Dong Clean Development Management (CDM) Project.

PetroVietnam’s partners included the UK-based ConocoPhillips Gama Ltd, and the PetroVietnam Exploitation and Production (PVEP).

CDM is one of three mechanisms aimed at lowering costs of achieving emission targets under the Kyoto Protocol. It gives developed countries certificates to implement projects in developing countries.

Under the Kyoto Protocol, PetroVietnam and its partners have developed the a CDM project that collects associated gas from Rang Dong field and Block 15-2, offshore of southern Vietnam, to feed power plants in Ba Ria-Vung Tau province.

The Rang Dong project has been registered as a CDM project since February 2004.

Originally published by VNA news agency website, Hanoi, in English 29 Feb 08.

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