|Crude Transportation Agreement in Place in Vietnam|
24 March, 2004
The Vietnam gas project, where OVL holds 45% participation interest has over 2 tcf (trillion cubic feet) of Natural Gas reserved and some amount of condensate. The current rate of production of Natural Gas is close to 7.6 MMSCMD (million cubic meters per day) and of the condensate from NDSPT to Thi Vai Terminal, between the condensate Shippers and the Transporter, has been signed on 24th march, 2004 at Ho Chi Minh City, Vietnam. This agreement, which provides for the transportation, handling, storage and redelivery, shall be valid for a period of 20 years. The condensate Shippers include OVL, British Petroleum and petro Vietanam, where as the Transporter of the condensate is petro Vietnam Gas Company. Petro Vietnam in also the Guarantor in this agreement.