Former General Director of PVGas appointed to new position.
Mr. Nguyen Xuan Son, Chairman of the Vietnam Oil and Gas Group (PetroVietnam), has appointed Mr. Do Khang Ninh, General Director of the PetroVietnam Gas Joint Stock Corporation (PVGas), as Deputy General Director of PetroVietnam and Director of the Management Board of Preparatory Investment for the Block B&48/95 gas-to-power project.
Local media reported that Mr. Ninh will take up the new position shortly.
Born in 1960, Mr. Ninh earned a Master’s Degree in the old Soviet Union. He has worked in petroleum industry since 1984 and has held various senior manager positions at the Vietsovpetro joint venture and at PVGas.
Contracts relating to Block B&48/95 project were signed by Mitsui Oil Exploration (Moeco), Chevron, the PetroVietnam Exploration Production Corporation (PVEP), and Kim Long Vietnam Ltd. (KLV) in July 2009, but work is yet to commence. It is forecast to produce 490 cu m of gas a day and 6000-7000 barrels of condensate. The total value of the contract is $4.3 billion.
After Chevron quit the project the Vietnamese Government directed PetroVietnam to negotiate with other foreign companies to buy back Chevron’s capital. After purchasing Chevron's share, PetroVietnam will attempt to get the project underway by June this year.