You are on page 1of 95

VietnamOilandGasGroup

WARMLYWELCOMETOPETROVIETNAM
Headquarter :18LangHaStreet,BaDinhDistrict,HaNoi,VietNam. Telephone :+84438252526 Fax :+84438265942 CONTACTPOINTS: and
MS.LETHITHUHUONG DeputyGeneralManager Investment&DevelopmentDivision Tel :+84437725891 Fax :+84438265942 Email :huongltt@pvn.vn MS.VUMAITRANG SpecialistInvestment &DevelopmentDivision Tel :+84438252526/7332 Fax :+84438265942 Email : trangvm@pvn.vn

Pleasecontactusformoreinformation!

ProjectSummary

Page1of95

VietnamOilandGasGroup

TABLEOFCONTENTS
Ord i ii I I1 I2 I3 I4 I5 I6 I7 II II1 II2 II3 II4 II5 II6 III III1 III2 III3 III4 III5 IV IV1 IV2 IV3 IV4 IV5 IV6 IV7 IV8 IV9 IV10 IV11 V V1 V2 ProjectName PetroVietnamProjectsMap ListofProjectsCallingforInvestment Downstream DungQuatRefinery(RefineryNo.1) DungQuatRefineryExpansion LongSonRefinery(RefineryNo.3) CaMauFertilizerPlant DinhVuPolyesterPlant DungQuatUndergroundOilStorageTerminal NghiSonUndergroundOilStorageTerminal Power ThaiBinh2Coalfiredpowerplant VungAng1Coalfiredpowerplant QuangTrach1Coalfiredpowerplant LongPhu1Coalfiredpowerplant SongHau1Coalfiredpowerplant DakdrinhHydropowerPlant Seaport PhuocAnPort NghiSonPortThanhHoa HonLaPortQuangBinh PVTransInternationalPort PetrovietnamTransportCorp RealEstate&IndustrialPark DanangRiversideHotel TanVienInternationalLuxuryTouristArea CT1011BuildingofVanPhuNewUrban,HaDong HaLongPlaza,officeandHotelProject(TimeTower) PhuocKhanhresidentialarea VungTauPetroleumNewUrbanArea PVInconessInvestmentJSC(RoyalGolfCourse) HonKhoiPetroleumIndustrialPark DanTienIndustrialPark LaiVuIndustrialPark SoaiRapIndustrialZoneInfrastructureServiceBusiness Infrastructure&Facilities Theringroad2inHCMCity TankFabricationPlant Page 04 05 09 13 15 18 21 24 26 29 32 35 38 41 44 49 53 55 58 60 63 65 67 68 69 71 72 74 76 78 80 82 83

ProjectSummary

Page2of95

VietnamOilandGasGroup

V3 V4 V5 V6 V7

LongitudinalWeldedSteelPipeProductionFactory FloatingStorageandOffloading(FSO)forBienDong1Project FloatingStorageandOffloading(FSO)SystemforBachHoProject DungQuatShipyardCompanyProfile NhonTrachShipBuildingPlant

84 85 88 91 94

ProjectSummary

Page3of95

VietnamOilandGasGroup

International Luxury Tourist. IV-2: TanVien Owner: PVR<PVN/PVC>. Investment: $235MM

PETROVIETNAM PROJECTS MAP


IV-3: CT10-11 Building Van Phu. Owner: PVR. <PVN/PVC>. Investment: $72MM IV-7: PV Inconess JSC. Owner: PVFC. <PVN>. Chartered Capital: $15MM IV-4: HaLong Plaza. Owner: PVR. <PVN/PVC> Investment: $44MM

IV-10: Lai Vu Industrial Park. Owner: PTSC. <PVN>. Investment: $34MM IV-9: Dan Tien Industrial Park. Owner: PVPowerLand. <PVN/PVC>. Invst: $70MM III-2: Nghi Son Port. Owner: PTSC. <PVN>. Investment: $260MM II-2: Vung Ang 1 Power Plant. Owner: PVN. Investment: $1,595MM

I-5: Dinh Vu Polyester. Owner: PVN/PVTEX. Investment: $325MM II-1: Thai Binh 2 Power Plant. Owner: PVN/PVPower. Investment: $1,699 MM I-7: Nghi Son Underground Oil Storage. Owner: PVOS <PVN/PVOIL> Investment: $300MM II-3: Quang Trach 1 Power Plant. Owner: PVN. Investment: $1,778MM IV-1: Da Nang Riverside Hotel. Owner: PVC <PVN>. Investment: $28MM I-6: Dung Quat Underground Oil Storage. Owner: PVOS <PVN/PVOIL> Investment: $340MM III-4: PVTrans International Port. Owner: PVTrans Corp <PVN>. Investment: $37MM I-1: Dung Quat Refinery. Owner: PVN. Investment: $3,053 MM V-6: Dung Quat Shipyard JSC. Owner: PVN. Chartered Capital: $190MM I-2: Dung Quat Refinery Expansion. Owner: PVN.Investment: $1,159MM IV-5: Phuoc Khanh Resident. Owner: PV Land. <PVN/PVC>. Investment: $30MM III-1: Phuoc An Port. Owner: Phuoc An. <PVN>. Investment: $870MM V-7: Nhon Trach Ship Building Plant. Owner: PTSC. <PVN>. Investment: $75MM IV-6: VungTau Urban Area. Owner: PetroLand. <PVN/PVC> Invt: $75MM V-4: FSO Bien Dong1. Owner: PTSC. <PVN> Investment: $120MM I-3: Long Son Refinery. Owner: PVN. Investment: $6,000MM V-5: FSP Bach Ho. Owner: PTSC. <PVN>. Investment: $210MM

Capital Cities

Legends

Downstream Power Sea Port RealEstate/IndustrialZone Infrastructure/Facilities


PVNcopyright 2010 All right reserved III-3: Hon La Port. Owner: PTSC. <PVN>. Investment: $20MM II-6: Dakrinh HydroPower. Owner: Dakrinh JSC. <PVN/PVPower> Investment: $153MM

IV-8: Hon Khoi Industrial Park. Owner: PVSB. <PVN/PTSC>. Investment: $1,919MM III-5: PVTrans Corporation. Owner: PVN. Chartered Capital: $78MM V-1: The Ring Road 2. Owner: PetroLand <PVN/PVC>. Investment: $331MM

IV-11: Soai Rap Industrial Zone. Owner: PVC. <PVN>. Investment: $40MM V-2: Tank Fabrication Plant. Owner: PVC-PT. <PVN/PVC>. Investment: $20MM V-3: Longgitudinal Welded Pipe Plant. Owner: PVPipe. <PVN/PVC>. Invt: $85MM II-5: Song Hau 1 Power Plant. Owner: PVN. Investment: $1,708MM II-4: Long Phu 1 Power Plant. Owner: PVN. Investment: $1,595MM I-4: Ca Mau Fertilizer. Owner: PVN. Investment: $900MM Rev.1018.Sonct

ProjectSummary

Page4of95

VietnamOilandGasGroup

LISTOFPROJECTSCALLINGFORINVESTMENT
Ord I I1 I2 I3 I4 I5 I6 I7 II II1 II2 II3 II4 II5 II6 III III1 III2 ProjectName Downstream DungQuatRefinery(RefineryNo.1) DungQuatRefineryExpansion LongSonRefinery(RefineryNo.3) CaMauFertilizerPlant DinhVuPolyesterPlant DungQuatUndergroundOilStorage Terminal NghiSonUndergroundOilStorage Terminal Power ThaiBinh2Coalfiredpowerplant VungAng1Coalfiredpowerplant QuangTrach1Coalfiredpowerplant LongPhu1Coalfiredpowerplant SongHau1Coalfiredpowerplant DakdrinhHydropowerPlant Seaport PhuocAnPort NghiSonPortThanhHoa PVN PVN PVN PVN PVN/PVTEX PVN/PVOil/PVOS PVN/PVOil/PVOS PVN/PVPower PVN PVN PVN PVN PVN/Dakdrinh PVN/PhuocAnJSC PVN/PTSC Owner QuangNgaiProvince QuangNgaiProvince BaRiaProvince CaMauProvince HaiPhongProvince QuangNgaiProvince ThanhHoaProvince ThaiBinhProvince HaTinhProvince QuangBinhProvince SocTrangProvince HauGiangProvince KontumProvince DongNaiProvince ThanhHoaProvince Page5of95 Location Investment/ CharteredCap. MMUSD 12,076 3,053 1,159 6,000 900 325 340 300 8,529 1,699 1,595 1,778 1,595 1,708 153 1,265 870 260 Maximum% oftransfer 7projects TBD 49% 71% 49% TBD 31% 31% 6projects 71% 49% 71% 71% 71% TBD 5projects 49% 49%

ProjectSummary

VietnamOilandGasGroup

III3 III4 III5 IV IV1 IV2 IV3 IV4 IV5 IV6 IV7 IV8 IV9 IV10 IV11 V V1 V2 V3

HonLaPortQuangBinh PVTransInternationalPort PetrovietnamTransportCorp RealEstate&IndustrialPark DanangRiversideHotel TanVienInternationalLuxuryTourist Area CT1011BuildingofVanPhuNew Urban,HaDong HaLongPlaza,officeandHotelProject (TimeTower) PhuocKhanhresidentialarea VungTauPetroleumNewUrbanArea PVInconessInvestmentJSC(RoyalGolf Course) HonKhoiPetroleumIndustrialPark DanTienIndustrialPark LaiVuIndustrialPark SoaiRapIndustrialZoneInfrastructure ServiceBusiness Infrastructure&Facilities Theringroad2inHCMCity TankFabricationPlant LongitudinalWeldedSteelPipe ProductionFactory

PVN/PTSC PVN/PVTrans PVN PVN/PVC/PVCMT PVN/PVC/PVR PVN/PVC/PVR PVN/PVC/PVR PVN/PVC/PVLand PVN/PVC/Petroland PVN/PVFC/PV INCONESS PVN/PTSC PVN/PVC/PVPower Land PVN PVN/PVC PVN/PVC/ Petroland PVN/PVCPT PVN/PVC/PVPIPE

QuangBinhProvince QuangNgaiProvince HoChiMinhCity DaNangProvince BaVi,HanoiCity HaDong,HanoiCity HaLongcity,Quang NinhProvince DongNaiProvince VungTauProvince HanoiCity KhanhHoaProvince HungYenProvince HaiDuongProvince TienGiangProvince HoChiMinhCity TienGiangProvince TienGiangProvince Page6of95

20 37 78 2,561 28 235 72 44 30 75 15 1,919 70 34 40 1,031 331 20 85

TBD 49% 18% 11projects TBD TBD TBD TBD TBD TBD 49% 49% TBD TBD TBD 7projects 49% 49% 49%

ProjectSummary

VietnamOilandGasGroup

V4 V5 V6 V7

FloatingStorageandOffloading(FSO) forBienDong1Project FloatingStorageandOffloading(FSO) SystemforBachHoProject DungQuatShipyardCompanyProfile NhonTrachShipBuildingPlant

PVN/PTSC PVN/PTSC PVN/DungQuat Shipyard PVN/PTSC TOTAL

VungTauCity VungTauCity QuangNgaiProvince DongNaiProvince

120 210 190 75 25,462

TBD 49% TBD TBD 36projects


Rev:101012.Sonct

Note:TBD:Tobediscussed

ProjectSummary

Page7of95

VietnamOilandGasGroup

SECTORI

DOWNSTREAM

DUNGQUATREFINERY (SocalledRefineryNo.1)

ProjectSummary

Page8of95

VietnamOilandGasGroup

DUNGQUATREFINERYPROJECT(RefineryNo.1) (SectorI:DownstreamProject:I1) 1. Project:DungQuatRefinery(So calledRefineryNo.1). 2. Location:DungQuatEconomic ZoneBinhSonDistrictQuang NgaiProvince. 3. Owner:VietnamOilandGasGroup (PetroVietnam). 4. Capacity:6,500KMTA(KiloMetric TonsperAnnum). 5. Capitalinvestment:US$3,053 million. 6. Economicefficiency:IRR8.02% 7. Financing:fromvarioussources PVN,nationalbudget,commercial loans 8. PVNs expectation: Partners are welcome to discuss for participation percentage up to 49% of Binh Son Refinery & Petrochemicals Co., Ltd (Petrovietnams subsidiaryoperatorandmanagerofDungQuatRefinery). 9. Feedstocks:Vietnamesecrudeoil. 10. Products: LPG; Unleaded Gasoline (RON 92; 95); JetA1; Diesel; FO; Polypropylene Sulphur.Thecapacitybyspecificproductsasbellowtable: No. 1 2 3 4 5 6 7 8 LPG RegularGasoline PremiumGasoline JetA1/Kerosene Diesel FuelOil Polypropylene Sulfur TotalLiquidProduct Products Quantity(BPSD) 11,100 44,100 21,800 5,300 53,200 7,000 450TBD 5TPD 142,400

11. Productspecifications:equivalenttoSpecificationEUROII.

ProjectSummary

Page9of95

VietnamOilandGasGroup

12. Overall plant site: Approximately 338 ha of land and 471 ha of sea, made up as follows: MainRefineryProcessunitsandUtilities:110ha; CrudeTankFarmandFlareArea:42ha; ProductTankFarm:about44ha; Seawaterintake,WasteWaterandonshoreCrudePipelines:17ha; Interconnectingproductpipelines:78ha; HarbourProductExportArea:135ha; SPM,offshorecrudepipelines,entrancechannelandturningbasin:336ha. 13. Mainprocessunits: 1. CrudeDistillationUnit(CDU) 2. NaphthaHydrotreater(NHT) 3. IsomerizationUnit(ISOM) 4. ContinuousCatalyticReformingUnit(CCR) 5. KeroseneTreatingUnit(KTU) 6. ResidueFluidCatalyticCracking(RFCC) 7. LCOHydrotreatingUnit(LCOHDT) 8. LPGTreatingUnit(LTU) 9. RFCCNaphthaTreatingUnit(NTU) 10. AmineRegenerationUnit(ARU) 11. SourWaterStripper(SWS) 12. CausticNeutralizationUnit(CNU) 13. PropyleneRecoveryUnit(PRU) 14. PolypropyleneUnit(PPU) 15. SulfurRecoveryUnit(SRU) Besides, utilities and offsite facilities are designed in accordance with the standard ofagrassrootsrefinery. 14. Tankfarm: 1. CrudeTankFarm:6tankswithtotalcapacityof390,000m3; 2. ProductTankFarm:22tankswithtotalcapacityof390,000m3; 3. IntermediateTanks:23tankswithtotalcapacityof280,000m3. 15. Marinefacilities: CrudeoffloadingfacilitySPM(SinglePointMooring):for80,000110,000DWT vessels.

ProjectSummary

Page10of95

VietnamOilandGasGroup

Productjetty:upto30,000DWTvessels. Breakwater:1,600mlengthand1011mhigh. 16. EPCcontractor: The major EPC Contract has been signed on May, 17th 2005 (became effective on June, 25th 2005) with Consortium (TechnipCoflexip of France, Technip Geoproduction of Malaysia, JGC Corp of Japan and Technicas Reunidas of Spain) ledbyTechnipFrance. 17. Projectlife:25years. 18. Projectsschedule: 20052009:investmentperiod 2010:Starttooperateat90100%capacity. 19. Currentstatus Transferred from EPC Contractor in May 2010 and began commercial productionatfullcapacityinJune2010; FromJanuary01,2010toOctober19,2010:processed4.7milliontonsofcrude oilandproduced4.4milliontonsofproducts; Estimated for whole year of 2010: process 6.1 million tons of crude oil and produced5.7milliontonsofproducts. In 2010, Dung Quat Refinery supplied approximately 30 % of the countrys demandforrefinedpetroleumproducts. 20. Crude oil supply & Distribution system for oil products of Dung Quat refinery (Wholesaler) Crude Oil Supplier: PV Oil (Petrovietnams subsidiary International Trader for crudeoils&petroleumproducts); Oil Products: Vietnamese major traders and distributors, such as PV Oil, PETEC, Petrolimex,etc; GasProducts:PVGasanditssubsidiaries; Jetfuel:VinapcoforVietnamAirlines,MilitaryPetroleumCo. 21. GovernmentpolicytoDungQuatrefineryproject Investmentincentives: Dung Quat refinery Project located in Dung Quat Economic Zone, Quang Ngai Province and granted a special Investment incentive in accordance with Correspondence 13/UDDT dated 15/02/2006 from Dung Quat Economic Zone ManagementBoard. Taxincentive:

ProjectSummary

Page11of95

VietnamOilandGasGroup

Beentitledtothelandrentexemptioninoverallprojectlife. Beexemptedfromthelandutilization; Beexemptedfromlandutilizingtaxesinoverallprojectlife; Be inherited tax rate, 10% of Corporate Income Tax (CIT) within 15 years commencingformthecommercialoperationoftheproject; Be exempted from the CIT for the 4 years when the taxable income is generated. Beentitledto50%reductionforthenext9consecutiveyears; Beentitledtotheincometaxof50%reductionforhighincomepeople; Be exempted from the import tax levied on machinery, equipment and constructionmaterialswhichcannotbeproducedinVietnam; The Project is exempted from the VAT levied on the imported produced in Vietnam.

TankFarmin DungQuatRefinery

ProjectSummary

Page12of95

VietnamOilandGasGroup

DUNGQUATREFINERYEXPANSIONPROJECT (SectorI:DownstreamProject:I2) 1. Project: Dung Quat Refinery

Expansion Project (Including existing DungQuatRefinery). 2. Location: Dung Quat Economic Zone BinhSonDistrictQuangNgaiProvince. 3. Owner: Vietnam Oil and Gas Group (Petrovietnam). 4. Capacity: 192,000 BPSD (8.5 million tons per year, equivalent to 130% of the originaldesignedcapacity); 5. Additional Capital investment: US$1,158.6million. 6. Economicefficiency:IRR9.42%. 7. PVNs expectation: Partners to participate49%oftheProject 8. Feedstocks: 50% Vietnamese Crude and 50% Middle East Sour Crude (Arabian Light), in which Vietnamese Crude is mixture of Bach Ho, Black Lion and Golden Lion. BachHocrudeismixtureofBachHoandCaNguVangcrude. 9. Products:LPG;UnleadedGasoline(RON92;97);JetA1;Diesel;FO;Polypropylene, Sulphur.Thecapacitybyspecificproductsasbellowtable: Item Product Quantity(BPSD) 1 2 3 4 5 6 7 8 10. Productspecificationsandenvironmentalregulation:
ProjectSummary

LPG RegularGasoline PremiumGasoline JetA1/Kerosene Diesel FuelOil PolyPropylene Sulfur TotalLiquidProduct

8,200 59,400 23,300 14,600 63,600 19,200 525TPD 139TPD 188,300

Page13of95

VietnamOilandGasGroup

Productspecifications:equivalenttoSpecsEUROIV. Environmental regulation: equivalent to present Specs TCVN2005 and TCVN2009. 11. Mainprocessunits: Additional process units: Crude Preflasher; VDU; Visbreaker; Diesel HDS; GasolineHDS;SHP/InAlk;MercuryRemovalUnit Modificationofexistingunits:CDU,RFCC,NHT,KTU 12. Utilityunits,offsiteandmarinefacilities ModificationofUtilityUnitsandMarineFacilitiesisminimized. Additional Tanks: Crude tanks, Intermediate Tanks, Check Tanks and ProductTanks. 13. Projectsschedule: 20112016:Investmentandimplementationphase. Theendof2016:CommissioningandBeginoperation. 14. Currentstatus: On 31 July 2009: Petrovietnam, represented by Binh Son Refinery & Petrochemicals Co., Ltd (BSR), signed the Contract with JGC Corporation (Japan) for Consultancy for Establishment of The Preliminary Feasibility Study(PreFS)forDungQuatRefineryExpansionProject. InDecember2009:JGCsubmittedthefinalPreFS. In October, 2010: After the PreFS is approved by the Government, JGC is continuously appointed to establish the Detail Feasibility Study which is expectedtobefinishedwithin6months. 15. Government incentives: Dung Quat Refinery Expansion enjoys the same investmentincentivesoftheexistingDungQuatRefinery.

ProjectSummary

Page14of95

VietnamOilandGasGroup

LONGSONREFINERYPROJECT(RefineryNo.3) (SectorI:DownstreamProject:I3) 1. Project: Long Son Refinery (so called RefineryNo.3). 2. Location: Long Son Petroleum Industrial Zone, Long Son commune, Vung Tau city, Ba Ria Vung Tau province. 3. Owner: Vietnam Oil and Gas Group (Petrovietnam). 4. Capacity: 10 million tons of crude oil per year (possible expansion to 20 milliontons). 5. Capital investment: US$ 7,000 8,000 million(roughestimation) 6. Economicefficiency:understudying 7. PVNsexpectation:Foreignpartnerstoparticipate71%oftheProject. 8. Feedstocks:100%importedcrudeoil. 9. Products: Petroleum fuels to fulfill the domestic demand and feedstock for petrochemicalindustry. 10. Productspecification:minimumequivalentwithEUROIV. 11. Overallplantsite: TheRefinerysite: The area for refinery site shall be 810 ha including future expansion. The site islocatedinthesouthoftheLongSonIndustrialZonebesidethecoastalwith ground level higher than 3m and a slope around 2%5% from the hills south westwards towards the coastline. This area is currently utilized for shrimp hatchingandsaltfarming. It must be paid by Investors all the cost of compensation, relocation and site clearancewiththesupportingfromIndustrialZoneandLocalauthorities. There is possible to build the SPM and jetty port for importing crude and offtakeproducts.Theinitialandannualdredgingisneeded. Locationadvantages: The Long Son refinery is located in the Long Son industrial zone in the Long Sonisland,BaRiaVungTauprovince,Vietnam.Nearbythisregion,thereare
ProjectSummary

Page15of95

VietnamOilandGasGroup

also several big industry zones: Go Dau, My Xuan, Phu My and Cai Mep. This is the hugest area of heavy industry in Vietnam: oil, gas, fertilizer, steel, power generation and other heavy industries. There are also numerous local maintenance/inspection and mechanical labor companies that are furnishing localindustries. TheLongSonIndustrialZoneis15kmawayfromBaRiatownand30kmfrom Vung Tau city and 100 km form Ho Chi Minh city. There is a good network of roads in the region which furnishes existing industry and tourism centers: around 10 km from the highway no. 51 connecting to Ho Chi Minh city. No railwaylineinthisarea. Seaway: This region is located in nearby the international seaway route that runstotheexistingindustrialzonesandHoChiMinhCity. There are 03 mega projects in the Long Son industry zone: The Long Son refinery, the Southern Petrochemical complex and the Underground Storage (Stock piling). The utilities and services are good and available in this area for construction phase: electricity (for construction only), fresh water, telecom system. 12. Projectsschedule:Expectedtimeofcommercialoperationaround2020. 13. GovernmentIncentives: The Government hasissued the incentive package applied for Long Sonrefinery as follows: GOV is responsible for all related infrastructures such as road, power, water, communicationsystemtothefenceoftheRefinery. The Corporate Income Tax applied for Project is 10% afterward up to 30 years asfollows: 0%for4yearsfollowingthefirstyearofprofitableoperation. 5%forthenext9years 10%forthenext17years. Importtariff: ExemptionofImportTaxforcrudeoilimport. Exemption of Import Tax for machinery and equipment imported in the complete production line which is not able to be produced domestically and createdfixedassets..

ProjectSummary

Page16of95

VietnamOilandGasGroup

Exemption of VAT for machinery, equipment, material imported in the complete production line which is not able to be produced domestically and createdfixedduringconstructionphase. Inprinciple,6monthsaftertheEPCaward,theJointVenturecanbuilduptheir import, distribution facilities and can distribute the Products based on import products by its own distribution networks, with the volume up to 50% of refinery production, provided that the Project complies with the Government regulation. 14. OtherAttractiveness: Nearby the biggest petroleum fuel consumption market of Vietnam (southern market)whichtakes60%ofdemand. Advantage in transportation in both domestic and international seaway transportationforcrudeimportandproductsdistribution. Located in the industry zone, all utilities are available at fence of the refinery withfavorablefeethatappliedtootherprojectsinthesamearea. Rapidly increased demand of the petroleum products in Vietnam. As officially forecasted, the average growth of fuel consumption in Vietnam up to 2025 shall be 6.7% per annual. Vietnam should import around 11 million tons of petroleumproductsin2015and13.6milliontonsin2020. TheprojectisstronglysupportedbyVietnameseGovernment.

ProjectSummary

Page17of95

VietnamOilandGasGroup

CAMAUFERTILIZERPROJECT (SectorI:DownstreamProject:I4) 1. Project:CaMauFertilizerProject. 2. Location: Khanh An, U Minh, Ca Mau Province, belongs to Ca Mau GasPower FertilizerComplex. 3. Owner: Vietnam Oil and Gas Group (Petrovietnam). 4. Capacity:800,000tonesurea/year 5. Capitalinvestment:US$900.2million. 6. Economicefficiency:IRR:13.88%. 7. Financing: from various sources including: ECA, commercial loan from major Vietnam and International Banks upto70%debt. 8. PVNsexpectation:Partnersarewelcome toparticipateupto49%oftheProject. 9. Feedstocks:NaturalGassupplyfromPM3CAA46plotandCaiNuocreservoirs. 10. Products:Granularurea. 11. Overallplantsite:about52ha. 12. Mainprocessunits:Ammonia,ureaandgranulationunit. 13. Technology: AmmoniasynthesistechnologyofHaldorTopsoeSADenmark. UreasynthesistechnologyofSAIPEMItaly. SpoutFluidBedGranulationofToyoEngineeringCorp.Japan 14. Utilities/offsitefacilities: Steamgenerationsystem Flaresystem Instrumentandplantairsystem Nitrogengenerationsystem Demineralizationsystem Coolingwatersystem Ureahandlingandstorage(includeshiploaderforexportureatobarge/ship) Ammoniastoragesystem Wastewatertreatmentandeffluentsystem
ProjectSummary

Page18of95

VietnamOilandGasGroup

Firefightingsystem Potablewatersystem 15. Codeandstandardappliedfortheproject: Mandatory Vietnamese standard: Climate Data, Set of Hydrological Meteorological Atlas of Vietnam, seismic zone classification, Fire Prevention and Fire fighting, Environmental Regulations, Health, Safety, labor protection Regulations. Licensors Standards and Standard Drawings: Standards and Standard Drawings provided by LICENSORS are contained within the LICENSORS Basic Engineering Designpackages. Code and Standards applied in the Project are international (ASME, API, JIS) andVietnamesemandatoryregulationsonsafety,fireprotectionandespecially environment. 16. Epccontractor: The EPC Contract has been signed on May, 6th 2008 (became effective on July, 01st 2008) with Consortium of Wuhan Engineering Co., Ltd (WEC) and China NationalMachineryImportandExportCorporation(CMC)ledbyWEC. 17. Projectlife:25years. 18. Operationdays(perannum):333days. 19. Projectsschedule:Operatingfrombeginningof2012. 20. Currentstatus: Contractor has finished 59.57% of total planned workload, in which, design worksachieved 93.56%, procurementsachieved 74.15% andconstructiontasks achieved35.02%ofplannedtargets,respectively. 21. Governmentincentives: Importtaxexemptionformachineries,equipments,tools&sparepartsusedto makeupfixasset; VAT is refunded for importing machineries, equipments, tools & spare parts thatarenotproduceddomestically. Landleaseexemptionduringprojectlifetime. Corporate income tax: 10% for the first 15 years put in operation. Exemption 4 years since the first profit year and 50% deduction for the next 9 years following.

ProjectSummary

Page19of95

VietnamOilandGasGroup

22. OtherAttractiveness: Ca Mau fertilizers product is granulated Urea, which is suited to international Ureaconsumptiontrend. Ca Mau fertilizer is placed next to Mekong Delta, which is the biggest farming areanationwide,anditisthemaingateforexportingitsproductstoCambodia whichisalsoahugemarketforfertilizer. Ca Mau province is located in urea consumption area, so distribution cost to consumerscouldbeminimized.

PhuMyFertilizerplant

ProjectSummary

Page20of95

VietnamOilandGasGroup

DINHVUPOLYESTERPROJECT (SectorI:DownstreamProject:I5) 1. Project:DinhVuPolyesterProject 2. Location: Dinh Vu Industrial Zone, Dong Hai 2 Ward, Hai An District, Hai PhongCity, 3. Owner: Petrovietnam PetroChemical and Textile Fiber Company Jsc, (PVTEX) 4. Capacity:175,000tones/year 5. Capital investment: US$ 324,85 million. 6. Economic efficiency: NPV: US$ 65.46 million;IRR:16.35%. 7. Financing: Projects financing has been arranged from various sources PVN, ECAs, and commercial loans. Equity/debtratio:30/70. 8. PVNsexpectation:Partnersarewelcometodiscusstheparticipationpercentage. 9. Feedstocks:PTA,MEG. 10. Products:Polyesterstamplefible(PSF)andFilament. 11. Overallplantsite:about15ha. 12. Main process units: Esterification & Polycondensation; Polyester stample fible (PSF)andFilamentunit. 13. Technology: Polymer production using two reactions flask technology of Uhde Inventa Fishcher Germany.AmmoniasynthesistechnologyofHaldorTopsoeSADenmark. FilamentandFiberproductionlinesofBarmag&NeumagGermany. UreasynthesistechnologyofSAIPEMItaly. SpoutFluidBedGranulationofToyoEngineeringCorp.Japan 14. Utilities/offsitefacilities: Steam&CondensateSystem FuelGasSupplySystem WaterSupplySystem
ProjectSummary

Page21of95

VietnamOilandGasGroup

WasteWaterSysterm AirSupplySystem NitrogenSupplySystem PTAConveyingandStorage PETChipConveyingandStorage StapleFiberStorage FilamentStorage MEGImportLineandStorage 15. Codeandstandardappliedfortheproject: MandatoryVietnamesestandard:ClimateData,SetofHydrologicalMeteorological Atlas of Vietnam, seismic zone classification, Fire Prevention and Fire fighting, EnvironmentalRegulations,Health,Safety,laborprotectionRegulations. Licensors Standards and Standard Drawings: Standards and Standard Drawings provided by LICENSORS are contained within the LICENSORS Basic Engineering Designpackages. Code and Standards applied in the Project are international (AIA, API, JIS) and Vietnamese mandatory regulations on safety, fire protection and especially environment. 16. EpcContractor: The EPC Contract has been signed on May, 14th 2009 with HECLGIPVC (Hyundai Engineering LG International Petrovietnam Construction) and became effective on July,09st2009. 17. Projectlife:22years. 18. Operationdays(perannum):333days. 19. Projectsschedule:CommissioningandOperationbyearlyof2011. 20. Currentstatus: Theoverallprogress:56,92%hasachievedincluding: Engineering:achieved8,26/8,44%, Procurement:achieved38,51/67,64%, Construction:achieved9,15/22,93%, 21. Government incentives: Investors in the Dinh Vu Industrial Zone (DVIZ) enjoy a widerangeoftaxbenefitsincluding:

ProjectSummary

Page22of95

VietnamOilandGasGroup

Importtaxexemptionformachineries,equipments,tools&sparepartsusedto makeupfixedasset; Corporate income tax: 10% for the first 15 years put in operation. Exemption 4 years since the first profit year and 50% deduction for the next 9 years following. Personal income tax reduction of 50% is applicable according to the regulating rateforenterprisesoperateinDinhVuIndustrialZoneDVIZ). 22. OtherAttractiveness Hugedemandfortheprojectsproducts Locatedinaindustrialcity,nearbytheseaport,veryconvenientinbothseaway, roadwaytobigdomesticaswellasinternationalconsumptionmarkets.

DinhVuPolyesterPlantsStrategicLocation

ProjectSummary

Page23of95

VietnamOilandGasGroup

DUNGQUATUNDERGROUNDOILSTORAGETERMINALPROJECT (SectorI:DownstreamProject:I6) 1. Project: Dung Quat Underground OilStorageTerminal. 2. Location: Dung Quat Economic Zone, Binh Thuan Commune, Binh Son District, Quang Ngai Province, Vietnam. 3. Owner: Petrovietnam Oil Stockpile CompanyLtd(PVOS). 4. Capacity: 1,600,000 m3 (phase 1 andphase2). 5. Capital investment: US$ 340 millions(roughestimation). 6. Economic efficiency: NPV: US$19.39Million;IRR:15.2%. 7. Projectlife:70years. 8. PVNsexpectation:Partnerstoparticipateupto31%ofPVOSsshares. 9. Trafficsystem: RoadTransport: o Nextto6.5milliontons/yearBinhSonrefinery(Refinery#1) o 838kmfromHoChiMinhCity o 883kmfromHaNoiCity o Highway1AacrossQuangNgaiProvince o ProvincialroadconnectstoDaNangQuangNgaihighway o RoadwaysconnecttootherIndustrialZone o NewroadwaysconnectfromDungQuattoSaHuynh o RoadwaysconnecttoothernearEconomicZoneprovince RailwayTransport: o ConnecttoNationrailwaysystem Sea/OceanTransport: o 765kmfromHoChiMinhCity o 700kmfromHaPhongCity o 105kmfromDaNangCity o SaKyport25km,DungQuatport15kmfromnorthwestQuangNgaiCity.
ProjectSummary

Page24of95

VietnamOilandGasGroup

o Locatedinthecentralareaofcentralport AirTransport: o ChuLaiAirport:30kmfromChuLaiAirport 10. Majorfacilities: Undergroundcavern:1,600,000m3CrudeandProductOilstoragetanks. Jetty/SPM: o Refinery#1sSPM:110,000DWT(existing); o Refinery #1s Jetty: 15,000 DWT to 30,000 DWT (expandable to 50,000 DWT); o NewSPM:250,000DWT(willbeconstructed) Pipelinesystem: CrudeoilPipelinetoSPM o Length:2kmtoproposednewSPM o Diameter:TBA o Flowrate:TBA o Workingpressure:TBA CrudeoilPipelinetoRefinery o Length:7kmtoRefinery#1 o Diameter:32inch o Medium:Crudeoil 11. Projectsschedule:20102016(partialoperation). 12. Currentstatus:CompletionofPreFS. 13. Governmentincentives: CorporatedIncomeTaxincentives: 0%forfirst4years; 5%fornext9years; 10%fornext2years; 25%afterwards. ImportTaxincentive:0%forImportedEquipments 14. Otherattractiveness: Proximityto Dung Quat Refinery and Petrochemicalcomplex, located at thehigh growthratearea(keycentraleconomiczoneofVietnam); Safe, friendly environment and profitable investment thank to low construction andoperationcosts,longlifecircle; Attractpotentialcustomersbecauseofstrategiclocation.

ProjectSummary

Page25of95

VietnamOilandGasGroup

NGHISONUNDERGROUNDOILSTORAGETERMINALPROJECT (SectorI:DownstreamProject:I7) 1. Project: Nghi Son Underground Oil StorageTerminal. 2. Location: Nghi Son Economic Zone, Truc LamCommune,TinhGiaDistrict,Thanh HoaProvince,Vietnam. 3. Owner: Petrovietnam Oil Stockpile CompanyLtd(PVOS). 4. Capacity:1,200,000m3(phase1) 5. Capital investment: US$ 300 million (roughestimation). 6. Projectlife:70years. 7. Economicefficiency:Understudying 8. PVNs expectation: Partners to participate31%ofPVOSsshares. 9. Trafficsystem: RoadTransport: o Nextto10milliontons/yearNghiSonRefinery&PetrochemicalComplex. o 40kmfromThanhHoaCity. o 200kmfromHaNoiCity. o 1560kmfromHoChiMinhCity. o ProvincialroadconnectstoNationalhighway1A. o RoadwaysconnecttonearIndustrialZone. o RoadwaysconnecttomainpointnorthernEconomicZone. RailwayTransport: o NewrailwayacrosstoNationalHighway1 Sea/OceanTransport: o NghiSonPort:50.000DWT. o 145kmfromHaiPhongCity o 520kmfromDaNangCity o 1380kmfromHoChiMinhCity o 980kmfromNhaTrangCity o LocatedinhubportareaofNorthCentralVietnam. AirTransport:
ProjectSummary

Page26of95

VietnamOilandGasGroup

o Vinhairport:90kmfromNghiSonEconomicZone. 8. Majorfacilities: Undergroundcavern:1,200,000m3CrudeAndProductoilstoragetanks Jetty/SPM: o SPM:250,000300,000DWT(tobeconstructedbyRefinery#2) o Jetty:50,00080,000DWT(tobeconstructed) Pipelinesystem: ProductPipeline: o Length:2x7.5km11.5kmtoproposednewJetty o Diameter:TBA o Medium:Productoil CrudeoilPipeline o Length:7.5km11.5km o Diameter:48inch o Medium:Crudeoil 9. Projectsschedule:20102014(partialoperation). 10. Currentstatus:PreFSPreparation. 11. Governmentincentives: CorporatedIncomeTaxincentives: 0%forfirst2years; 10%fornext6years; 20%fornext20years; 25%afterwards. ImportTaxincentive:0%forImportedEquipments. 12. Otherattractiveness: Proximity to Nghi Son Refinery and petrochemical Complex, located at the high growthratearea. Safe, friendly environment and profitable investment thank to low construction andoperationcosts,longlifecircle. Attracttopotentialcustomersthanktostrategiclocation ENDOFDOWNSTREAMSECTOR

ProjectSummary

Page27of95

VietnamOilandGasGroup

SECTORII

POWER

CAMAUCOMBINEDCYCLEGAS POWERPLANT

ProjectSummary

Page28of95

VietnamOilandGasGroup

THAIBINH2COALFIREDPOWERPLANT (SectorII:PowerProject:II1) 1. Project: Thai Binh 2 Coalfired ThermalPowerplantproject 2. Location: My Loc commune, Thai Thuy district, Thai Binh province, Vietnam. 3. Projectowner: Petrovietnam PowerCorporation(PVPower). 4. Capacity: 1200 MW (2 units of 600 MW). 5. Investment capital: US$ 1,668 million. NPV: 6. Economic efficiency: US$168.09million;IRR:12%. 7. Financing source: from various sources PVN, national budget, ECAs,commercialloanswithEquity/Debt:30/70. 8. Objectives:PowersupplytolargeareaintheNorth,includingThaiBinh,HaiPhong, Hai Duong, Bac Ninh, Hanoi etc., contributing to stable and sustainable national network. 9. Maximumforeignequityownership:71%oftheProject. 10. Fuelandlimestone: - Main fuel: Vinacomin agreed to provide dust coal No.6B in Quang Ninh area in accordance with Vietnamese standard of having low heating value of around 4180Kcal/Kgandashcontentofaround40%. o Coal will be transported to the plant by sea way, a separate coal unloading stationfortheplantwillbeconstructed. o TotalcoalconsumptionforThaiBinh2TPPisaround4,151,160ton/year. o Averagecoalpriceduringprojectlife:~38.36USD/ton. - Secondary fuel: The plant secondary fuel during startup and support firing at boilerloadof<40%ratedloadwillbefueloilNo.2B(TCVN62392002) o Fueloilwillbetransportedbybargestotheplantoilport.
ProjectSummary

Page29of95

VietnamOilandGasGroup

o Oilconsumptionwillbe~10,800ton/year. o FOprice:~450USD/ton(excludingVAT). - Limestone: o Limestone is used for firing support in a CFB boiler for desulphurization in thefluegas,thewholeplantlimestoneconsumptionis~216,240T/year. o LimestoneisbasicallyexploitedintheareaofThuyNguyenHaiPhongand transportedbybargestothepowerplant. o Temporarylimestoneprice:~8.0USD/ton(excludingVAT) 11. Area:

- The plant internal area is approximately 265 hectares which will be leveled to elevationof+4.5m(Nationalelevationsystem). 12. Mainparameters: - Unitnumber:02 - Ratedoutputofunit(raw):600MW(RO) - Unitconfiguration:02CFBboiler+01turbine+01generator - Maximumaverageoperationhours:6,000hour/year - Auxiliarypowerrate:6.2% 13. Economicefficiency No 1 2 3 4 5 6

Economicindicators Powertariffatplantbusbar(cent/kWh) Financialdiscountfactor FinancialInternalrateofreturn(FIRR) NetpresentvalueNPV(millionUSD) B/C Paybackperiodwithdiscountrate

Value 5.718 9.20% 12.00% 164.62 1.065 15

14. Projectlife:25years 15. Projectschedule: - UnitNo.1(600MW):tobecompletedinQII/2014.


ProjectSummary

Page30of95

VietnamOilandGasGroup

- UnitNo.2(600MW)tobecompletedinQIV/2014. 16. Currentstatus: FeasibilityhasbeenapprovedbyPVN; ProjectsFEEDispreparing.

17. Projectattractiveness: - Governmental guarantees: The Ministry of Finance, acting on behalf of the VietnamsGovernment,willguaranteeforoverseasfinancingloans. - Supplying power to Thai Binh province and the North of Vietnam, ensuring power security of the national grid, reducing losses in transmission lines and improvingpowerquality. - Conformable with Master Power Plan and socioeconomic plans of Vietnam and theregion. - Suitable compensation & resettlement plan (up to now, land clearance and compensationarebasicallycompleted) - Morestableoutputbecauseofinvariablecoalsources. - Coal, oil, limestone, equipment and materials during construction could be transportedwithoutdifficultiesduetofavorableprojectlocation. - Supported by the Thai Binh People Committee, relevant ministries as well as internationalorganizations. - StronglyadvocatedbythepeopleinThaiBinhprovince.

Construction site of a coal-fired power plant ProjectSummary

Page31of95

VietnamOilandGasGroup

VUNGANG1COALFIREDPOWERPLANT (SectorII:PowerProject:II2) 1. Project: Vung Ang 1 Thermal Power PlantProject. 2. Location: Ky Loi commune, Ky Anh district, Ha Tinh province, within Vung Ang Economic Zone, 9 km from theNationalHighway1A. 3. Projectowner:Petrovietnam. 4. Capacity: 1200 MW (2 units of 600 MW). 5. InvestmentCapital:US$1.595billion. 6. Economicefficiency: - NPVf=116.72millionUSD, - IRRf=12%, - Paybackperiod14year, - Average Electricity Price of the ProjectUS$5.88/MWh. 7. Financing source: Projects financing has been arranged from various sources PVN,ECAs,andcommercialloanswiththeequity/debtratiois30/70. 8. Financingschedule: No. 1 2 3 4 5 ConstructionPeriod Year2009 Year2010 Year2011 Year2012 Year2013 Total CAPEX(excl.VAT)MMUSD 210.90 471.47 379.41 358.23 35.59 1,455.6

9. Maximumforeignequityownership:49%oftheProject. 10. Fuelsource:

ProjectSummary

Page32of95

VietnamOilandGasGroup

- Typeofcoal(otherfuel),calorificvalue:CoalType:AnthraciteDustCoalNo.5 (HG100)inaccordancewithVietnamStandard(TCVN1790:1999). - Coal (other fuel) prices (pricing formula): PVN and Vinacomin are under negotiation. 11. Area: 189.63ha 39.84ha. 2.93ha 7.00ha 131.70ha 8.16ha +8mabovemeansealevel

- Totalareas: o o o o o o

Plantconstructionarea: ProjectManagementBoardArea: Staffhousingarea: Ashpondarea: Otherareas: Siteelevation:

12. Mainparameters: - Fuel rate consumption: Coal consumption: around 3,000,000 tons/year and HeavyFuelOil(HFO):around14,400tons/year. - Mainconsumers:Connectionoptions:220kVVungAng1BaDon,220kVVung Ang1HaTinh,220kVVungAng1VungAngEconomicZone. - Salesvolume:AccordingtotheapprovedFS,theTmaxof6000hisequivalentto about 6.71bl kWh/year. However the actual volume will be mobilized by NationalDispatchCenter. 13. Projectlife:25years 14. Projectschedule: - Unit1:expectedtooperateinJuly2012. - Unit2:expectedtooperateinJanuary2013. - EPCContract:startedon27thApril2009 - EPCContractor:LILAMACorporation 15. Currentstatus - TheshipmentofBoilermaterials(anchorbolts)isdeliveredonsite. - StartUnit1BoilerMainSteelStructureon16thMay2010. - Fuel supply guarantee: VINACOMIN commits to supply coal from local mines in northernVietnaminlongtermforVungAng1PowerPlant. - Power pricing: EVN shall purchase electricity generated by Vung Ang 1 TTP for 30years.Ratesshallbeagreedbybothpartiesonbasisofmutualbenefits.
ProjectSummary

Page33of95

VietnamOilandGasGroup

- Powersalesguarantee:NoguaranteeofelectricitysalesisappliedincaseVung Ang1TTPisownedandinvestedbyPVNasastateownedeconomicgroup. 16. ProjectAttractiveness: - Governmental guarantees: The Ministry of Finance, acting on behalf of the VietnamsGovernment,willguaranteeforoverseasfinancingloans. - The project is strongly supported by Vietnamese Government and authority in HaTinhProvince.

VungAng1PowerPlantConstructionSiteasApril/2010

ProjectSummary

Page34of95

VietnamOilandGasGroup

QUANGTRACH1COALFIREDPOWERPLANT (SectorII:PowerProject:II3) 1. Project: Quang Trach 1 Thermal PowerPlantProject 2. Location: , Vinh Son village, Quang Dong Commune, Quang Trach District, Quang Binh Province, CentralofVietnam. 3. Projectowner:Petrovietnam. 4. Capacity: 1200 MW (2 units of 600 MW). 5. InvestmentCapital:US$1.668billion. 6. Financing source: From various sources PVN, ECAs, commercial loans 7. Economicefficiency: - NPVf=USD328.16million. - IRRf=12%. - Paybackperiod=13years 8. Financingschedule:(Unit:MillionUSD) No. Construction Period Year2010 Year2011 Year2012 Year2013 Year2014 Year2015 Total CAPEX(excl.VAT) Owner (USD) 7.926.306 31.705.225 155.355.601 131.576.682 85.604.107 63.410.449 475.578.370 Loan (USD) 0 0 399.485.830 344.001.687 310.711.201 55.484.143 1.109.682.862

1 2 3 4 5 6

ProjectSummary

Page35of95

VietnamOilandGasGroup

9. Maximumforeignequityownership:upto49%oftheProject. 10. Fuelsource: - ImportedBitumcoalfromAustraliaandIndonesia. 11. Area: :344ha :240ha :100ha :4ha :+5.1mabovemeansealevel

- Totalareas o o o o Inland Seaarea Roadareas Siteelevation

QuangTranh1location:VinhSonVillage,QuangDongCommune

- Mainparameters: - Fuel rate consumption: Coal consumption: around 3,166,000 tons/year and Diesel Oil(DO):around4,218tons/year. - Mainconsumers:Connectionoptions:500kVQuangTrach1VungAng2(25km). - Salesvolume:AccordingtotheFS,theTmaxof6500hisequivalenttoabout8.43bl kWh/year. However the actual volume will be mobilized by National Dispatch Center. 12. Projectlife:25years 13. Projectschedule: - Unit1:expectedtooperateinJune2015.
ProjectSummary

Page36of95

VietnamOilandGasGroup

- Unit2:expectedtooperateinDecember2015. 14. Currentstatus - Startinfrastructureconstructionon11thSeptember2010. - FeasibilityStudyisexpectedtobeapprovedbyinDecember2010. 15. Projectattractiveness: - Governmental guarantees: The Ministry of Finance, acting on behalf of the VietnamsGovernment,willguaranteeforoverseasfinancingloans. - The project is strongly supported by Vietnamese Government and authority in Ha TinhProvince.

ProjectSummary

Page37of95

VietnamOilandGasGroup

LONGPHU1COALFIREDPOWERPLANT (SectorII:PowerProject:II4) 1. Project: Long Phu 1 Thermal PowerPlantProject. 2. Location: Long Duc commune, Long Phu district, Soc Trang province. 3. Projectowner:PetroVietnam 4. Capacity: 1200 MW (2 units of 600MW). 5. Investment capital: US$ 1.595 billion. 6. Economic efficiency: NPV: US$ 114.74 Million; FIRR: 12%. Paybackperiod:18years. 7. Financing sources: from various sources PVN, national budget, ECAs,commercialloanswithEquity/Debtratio:30/70. 8. Objectives:

- Meeting the demands for Viet Nams development, securing the power supply forVietNam; - Contributing to the development of local industry and creating job opportunitiesforlocalcitizens. 9. Maximumforeignequityownership:71%oftheProject. 10. Fuelsource: - ImportedcoalfromAustraliaorIndonesia. - Transportation plan: Since vessels accessing from Hau River are limited to 10,000 15,000 DWT capacity only, coal shall be imported through an intermediateport.Fromtheintermediateport,itwillbetransportedby10,000 DWTcoalbargeorshiptothepowerplants,includingLongPhu1. - Coalprice:withFOBcoalpriceofIndonesiaat6265USD/ton,coalpriceatthe Long Phu 1 power plant will be about 91 110 USD/ton depends on the locationoftheintermediateport. 11. Area:

ProjectSummary

Page38of95

VietnamOilandGasGroup

- Totalarea:around115ha. - Long Phu 1 Thermal Power Plant is located in Long Phu Power Complex project (totalareaofabout420.5ha),whichismanagedbyownerandlocalauthorities. 12. Mainparameters: - Rated Capacity: 2x600MW units with conventional technology, once through pulverized coal fired boiler with reheat, super steam pressure, advanced combustiontechnology(lowNOx),equipments; - Minimumcapacity:42.14%; - Power expose: 7.8 GWh, Tmax: 6,500 hours, power expose to bus bar: 7.13 GWh; - Fuel: Imported coal (bituminous or subbituminous) with heat value: 5500 6100kcal/kg,FOorHFOoilandlimestone; - Cooling water supply system: brackish water/fresh water from Hau River with flowrateof56m3/s; - Clean water supply system: Clean water from Hau River and pretreated, desalinationanddemineralizationforboilerfeedwater. - Electricsystemofthepowerplant:220kV/500kVswitchyardsystem. - Basic characteristics of boiler at rated capacity: 2 units, using conventional technology,oncethroughpulverizedcoalfiredboiler - Basiccharacteristicsofturbineatratedcapacity: - Generator: Rated capacity: 600MW, Coefficient: 0.85/0.9, Frequency: 50Hz, revolution:3000r/m 13. Projectlife:25years. 14. Projectschedule: CommercialoperationdateofUnit1:5/2015; CommercialoperationdateofUnit2:9/2015.

15. Currentstatus PVNhavealreadyapprovedfortheFSofLP1powerplant. Completionofprojectsite/landclearance. FEEDconsultancycontractsignedonApril29,2010.

16. Projectsattractiveness: The project is strongly supported by Vietnamese Government and Soc Trang Province;
Page39of95

ProjectSummary

VietnamOilandGasGroup

Governmental guarantees: The Ministry of Finance, acting on behalf of the VietnamsGovernment,willguaranteeforoverseasfinancingloans. The position of project is suitable for the coal transportation and the water resource(onthebankofHauRiver).

17. OtherInformation: Followingaretheprojectsthatshouldbeimplementedpriortooratthesame timewiththeLongPhu1powerplantproject: InfrastructureoftheLongPhuPowerComplex, PowergridsynchronizingwiththeLongPhu1powerplant, Intermediateportofcoal, CanalforhighcapacityvesseltravelinginHauRiver(QuanChanhBocanal).

CaMauCombinedcycleGasPowerPlant(CaMauprovince)

ProjectSummary

Page40of95

VietnamOilandGasGroup

SONGHAU1COALFIREDPOWERPLANT (SectorII:PowerProject:II5) 1. Project: Song Hau 1 Thermal PowerPlantProject 2. Location:PhuHuuACommune, ChauThanhDistrict,HauGiang Province. 3. Owner: Vietnam Oil & Gas Group 4. Capacity: 1,200MW(2unitsof 600MW). 5. InvestmentCapital:US$1,812 million. 22. Economicefficiency:NPV: US$253million;FIRR12%. PaybackPeriod:20years. 6. Financing sources: from various sources PVN, national budget, ECAs, commercial loans with Equity/Debt:30/70. 7. Objectives: - Meeting the demands for Viet Nams development, securing the power supply forVietNam; - Contributingtothedevelopmentoflocalindustry. 8. Maximumforeignequityownership:71%oftheProject. 9. Fuel source: imported coal transported through an intermediate port to Song Hau 1powerplantby10,000DWTvessels. 10. Area: - Song Hau 1 Thermal Power Plant is located in Song Hau Power Complex project (thetotalareaofabout367hawhichismanagedbyownerandlocalauthorities - Area of the power plants and ancillaries; construction yard and storage and commoninfrastructures:196ha. - Ashdisposalyard:147ha. - Transmissionlinecorridorof500kVswitchyard:17ha. - Roadsinpowerplantcomplex:7ha.

ProjectSummary

Page41of95

VietnamOilandGasGroup

ConstructionareaofSongHau1No.1PowerPlant:139,5ha.Including: - PowerplantandBOP:52.5ha. - Ashdisposalyard:47ha. - 500kVswitchyard:8.0ha. - Coolingsystemandothers:41.5ha. 11. Mainparameters - Rated Capacity: 2x600MW units with conventional technology, once through pulverized coal fired boiler with reheat, super steam pressure, advanced combustiontechnology(lowNOx),equipments; - Minimumcapacity(HHV):40.61%; - Power expose: 7.8 GWh, Tmax: 6.500 hours, Power expose to bus bar: 7.293 GWh; - Fuel: Imported coal (bituminous or subbituminous) from Australia or Indonesia withheatvalue:5,6425,932kcal/kg,FOorHFOoilandlimestone; - Cooling water supply system: brackish water/fresh water from Hau River with flowrate:50m3/s; - Fresh water supply system: Fresh water from Hau River and pretreated, desalinationanddemineralizationforboilerfeedwater. - LimestonewillbefromKienGiangorMiddleNorth - Electricsystemofthepowerplant:500kVswitchyardsystem. - Basic characteristics of boiler at rated capacity: 2 units, using conventional technology,oncethroughpulverizedcoalfiredboiler - Basiccharacteristicsofturbineatratedcapacity: - Generator: Rated capacity: 600MW, Rated voltage: 21kV, Excitation system: Staticexcitation. - Fluegascontrolequipments:ESP,FGD,SCR - Heightstack:150200m. 12. Projectlife:25years. 13. Projectschedule: - CommercialoperationdateofUnit1:2015; - CommercialoperationdateofUnit2:2016. 14. Currentstatus: PVNnowisassessingfortheFeasibilityStudyofSongHauNo.1powerplant. Siteclearanceandlandlevelinghasbeenstartingon27/08/2010.
Page42of95

ProjectSummary

VietnamOilandGasGroup

FeasibilityStudyisexpectedtobeapprovedinDecember2010.

15. Projectattractiveness: - Theprojectslocationiseasytoaccessforcoaltransportationfromseaway. - The project is strongly supported by Vietnamese Government and Hau Giang Province; - PossibilitytoobtaintheGovernmentguaranteeforoverseafinancingloans.

NhonTrach1CombinedcycleGasPowerPlantinDongNaiprovince

ProjectSummary

Page43of95

VietnamOilandGasGroup

DAKRINHHYDROPOWERPLANT (SectorII:PowerProject:II6) 1. Project: Dakdrinh Hydropower plantproject 2. Location: Son Tay District, Quang Ngai Province and KonPlong District, KonTum province, Vietnam 3. Projectowner: Dakdrinh HydropowerJointStockCompany 4. Capacity:125MW(02units) 5. Investment capital: US$ 153 million. 6. EconomicEffectiency 7. Financing source: Financing has been arranging from various sources including: PVN, national budget, ECAs, commercial loans (PVFC, BIDV, Credit Agricole) with Equity/Debt ratio 30/70. The Facility Agreement is supposed to be signed in QI/2011. 8. Maximum foreign equity ownership: Partners are welcome to discuss participationpercentage. 9. Objective: According to grand development plan of Vietnam Electricity Grid in 20012020 (Master Plan 6), national power demand in 2010 and 2020 is 70.4 billion KWh and 167 billion KWh correlatively. In order to meet that demand, it is essential to promptly construct power plants, especially the study of exploitation and resources of hydropower. Report on Dakdrinh Dakdrinh hydropower investment project is in the study program on hydropower of Tra Khuc River to optimize scale and locate Dakdrinh hydropower project to increase electricity supply in the Central which helps to improve infrastructure of Son Tay district of Quang Ngai province and KongPlong of Kon Tum province. These areas are underdeveloped.TheprojectwillsupplywatertoThachNhamLakeandDungQuat Industrial Zone in dry season and eliminate flood in the downstream in the flood season.
ProjectSummary

Project

Page44of95

VietnamOilandGasGroup

10. Area:Acquiredland22.932.000m2 11. Mainparameters: No. 1 1.1 1.2 1.3 2 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 3 3.1 3.2 3.3 3.4 3.5 4 4.1 4.2 4.3 Mainparameter

Unit km2 m3/s 106m3 m m m m km2 106m3 106m3 106m3 m3/s m3/s m3/s m3/s m m m

Value I II

Projectcategory(forconstructionworks) Categoryforenergyalternativeandpowerplant Catchmentsspecification Catchmentsareatotheselectedalternative(Flv) Averageflowperyears(Q0) Totaldischargeflowperyear(W0) Reservoir Normalwaterlevel(MNDBT) Deadwaterlevel(MNC) Waterlevelwithdesignedflooddischarge(MNGC) Waterlevelwithcalculatedflooddischarge (MNKT) Reservoirareawithnormalwaterlevel Totalvolume(Vtb) Usefulvolume(Vhi) Deadvolume(Vc) Flow Assuredflow(Q90%) MaxflowthroughthePowerhouse(Qmax) Flooddischargeatthefrequency: P=0,02%(examination) P=0,1%(design) Head Maximunhead:Hmax Avaragehead:Hbq Minimunhead:Hmin

420,00 31,89 1005,7

410,00 375,00 411,43 414,88 9,124 248,51 205,18 43,33

12,78 51,95

12638,7 9264,4

330,52 309,20 257,23


Page45of95

ProjectSummary

VietnamOilandGasGroup

4.4 5 5.1 5.2 5.3 6 6.1 6.2 6.3 6.4

Calculatedhead:Htt WaterlevelatthedownstreamofthePowerhouse Maximunwaterlevel(Qx0,1%) Maximunwaterlevel(Qx0,5%) Minimunwaterlevel(1unit) Energyindex Installedcapacity(Nlm) Assuredcapacity(Nb) AvarageOutputperyears(Eo) Hours

m m m m

275,00

90,36 88,53 75,56

MW MW 106 KWh hour

125,00 38,85 540,246 4322

12. Economicefficiency No. 1 2 3 4 5 Case Electricprice0.046USD/kWh Electricprice0.048USD/kWh Electricprice0.050USD/kWh Capital+10% Energy 5% Capital+5%,Energy 5% 1yearbehindschedule Electricprice0.055USD/kWh Capital+10% Energy 10% Capital+10%,Energy 10% 2yearbehindschedule ElectricPrice0.057USD/kWh Capital+10% Energy 10% Capital+10%,Energy 10% 2yearbehindschedule FIRR (%) 9,51 10,20 10,89 10,26 10,69 9,86 9,80 12,57 11,92 11,43 9,75 9,72 13,27 12,56 12,10 10,36 10,19 B/C 0,98 1,01 1,05 1,01 1,04 0,99 0,99 1,13 1,10 1,07 0,99 0,98 1,16 1,13 1,11 1,02 1,01 NPV (BillVND) 61,570 30,280 121,830 38,653 90,483 14,340 20,953 344,670 268,108 182,099 29,730 39,045 436,670 356,474 265,681 53,080 36,020

13. Projectlife:40years. 14. Projectschedule:

ProjectSummary

Page46of95

VietnamOilandGasGroup

- Dischargewaterthroughdiversiontunnel:July2009 - OperationofUnit1:QuarterIII/2013 - OperationofUnit2:QuarterIV/2013 15. Current status: Deploying the preparation works, auxillary works for discharge waterthroughdiversiontunnelonJanuary2011 16. Projectattractiveness: - Hydro Power plant project has features of low industrial gas emission therefore, more advantageous in developing CER project in order to get benefit from the carbonmarket(CDM). - Input of a hydro power plant is derived from water energy source, causing no costforinputfactors,besidestheenvironmentalfee. ENDOFPOWERSECTOR

ProjectSummary

Page47of95

VietnamOilandGasGroup

SECTORIII

SEAPORT

PETROLEUMSERVICEPORTINVUNGTAU

ProjectSummary

Page48of95

VietnamOilandGasGroup

PHUOCANPORTPROJECT (SectorIII:SeaportProject:III1) 1. Project name: Phuoc An Port Project. 2. Location: Southern Focal Economic Region, the water gate of the SouthernVietnam. 3. Owner: PetroVietnam Phuoc An Port Investment and Operation JSC (PAP). 4. Shareholders: - PetroVietnam:80% - Dong Nais People Committee: 15%; - Others:5%; 5. Capacity: - 4.1millionTEU/year; - 6.5millionTon/year(Generalcargo) No Type Unit 2013 1 2 Container General cargo Total: TEU/year Ton/year Ton/year Ton/year 630,000 7,245,500 7,245,000 Operation Stages 2015 1,366,000 15,709,000 2,000,000 17,709,000 2020 4,100,000 47,150,000 6,500,000 53,550,000

6. InvestmentCapital:US$870 million Inordertomaketheprojecteffective andreceiveturnover withintheshortest periodoftime, theproject is dividedinto five investment stages, operation startsas soon asthe construction oftheberth No.1isfinished, thestages areas follows:

ProjectSummary

Page49of95

VietnamOilandGasGroup

No 1 2 3 4 5 Stage 1 Stage2 Stage3 Stage4 Stage5

Stage

Capital(USD) 100million 195 million 188 million 233 million 154million 870million USD

Estimated investment capital

TheestimatedcapitalinvestmentexcludedVAT(10%)andcontingencycost(10%)

7. Economiceffeciency:NPV:US$75million;IRR:17%. 8. Maximum foreign equity ownership: Partners can invest in maximum up to 49% ofchartercapitalinPhuocAnPortProject. 9. Mainparameters: - PortCapacities: o Totallandarea:183ha; o Totalberthlength:3,050meters; o Waterdepthofriver:15m; o 06Containerberths(60,000DWT/berth); o 04Generalcargoberths(60,000DWT/berth); - LogisticZoneCapacities(5kmawayfromtheport); o Totallandarea:555ha; o ICDservices; o Containerandgeneralcargoterminals; o Preproductionprocessingimport/export; o Liquid storage yard (oil, gas etc) with the main purpose is to serve the refineryfactoryandtheLongThanhInternationalAirport; o Warehouseservices; o Officebuilding; o Apartmentbuilding

ProjectSummary

Page50of95

VietnamOilandGasGroup

o Entertainmentfacilities; o Andotherslogisticsservices. 10. Traffic System: The location of Phuoc An Port is not only closed to economic hub of Vietnam but also has a very convenient traffic system with connection to all the lifeline traffic route of the region such as roads, seaways, airways, and railways. 11. Natural Conditions: PortandLogisticZonearenotaffectedbynaturalcalamitylike flood or infiltration,storm,tide.etc. 12. Current status: - Completedworks: o Surveyforcadastralmap; o Geologicalsurvey; o Detailedplanningforconstruction1/2000; o Detailedplanningforconstruction1/500; o Reportforenvironmentalimpactstatement; o CompanysInvestmentLicense; o Cadastralsurvey1/2000; o Approveddecisionfortotalcompensation; o Reclamationdecisionfortotalprojectarea). - Ongoingworks: o Draftingdetailedcompensation; o Planning1/500Logisticzone; o ProjectinvestmentBasicdesign; o DetaileddesignPhase1. 13. ProjectAttractiveness: - StrongsupportfromPetroVietnamandDongNaisPeopleCommittee - Biggestport(183ha)inVietnamwiththeberthlengthmorethan3km. - Biggest Logistic zone with the area of 555 ha with multifunctions to support theportoperation. - Located in the largest national economic centre with important industries and inoneofthebusiestcommercialareasinVietnam.

ProjectSummary

Page51of95

VietnamOilandGasGroup

- Located in the busiest transportation region of cargo and container volume throughSouthernFocalEconomicRegionofVietnam. - The traffic through this region is recorded to account for 75% of cargo volume ofVietnam. - In good condition of transportation, such as: by road, by waterway, by air and bytrain. - Port and Logistic zone are not affected by natural calamity, such as: storm, flood,tide,etc..

PhuocAnPortPerspectiveDrawing

ProjectSummary

Page52of95

VietnamOilandGasGroup

NGHISONPORTPROJECT (SectorIII:SeaportProject:III2) 1. Project: Based and Transferred NghiSonport. 2. Location: Nghi Son Economic Zone, Tinh Gia district, Thanh Hoaprovince. 3. Project Owner: Petroleum Technical Service Corporation (PTSC) 4. Capacity:2milliontons/year. 5. Investment Capital: US$ 28.1 million. 6. Economic effeciency: Under studying. 7. Maximum foreign equity ownership:49%oftheProject. 8. Purpose: To serve the export import demands of goods and raw materials, machinery and equipment, general goods, containers in Nghi Son economic zone and other enterprises. 9. Mainparameters: - PortNo.1:165mlength,startedoperationin2002,capacityupto10,000DWT; - PortNo.2:225mlength,startedoperationin2007,capacityupto30,000DWT; - Landarea:9ha; - ForecastofgoodstransportingthroughNghiSonPort: Description Unit 20102015 20152020 3,000,000 10,000,000

Totalgoods Tons/year

10. TrafficSystem:convenienttransportationthroughroads,railwaysandseaways - 14kmawayfrom1ANationalHighway;

ProjectSummary

Page53of95

VietnamOilandGasGroup

- Railway through Thanh Hoa Province with 9 stations to facilitate transport of rawmaterialsandproducts; - Closetointernationalmaritimeroutes. 11. Currentstatus:Underoperationat150%ofportcapacity. 12. ProjectAttractiveness: - LocatedSouthofBienSonnaturalbreakwater. - The port can be expanded to accommodate 50,000 DWT ships. It is considered thebestlocationinCentralVietnamtodevelopdeepwaterport. - DemandsarehigherthanthecapacityofNghiSonPort - Nghi Son port is located in Nghi Son Economic Zone, a dynamic investment environment. Providing good incentives and transparent investment policies, it has attracted foreign investors to invest in largescaled projects in refinery, petrochemical,shipbuildingandrepairetc.

ProjectSummary

Page54of95

VietnamOilandGasGroup

HONLAPORTPROJECT (SectorIII:SeaportProject:III3)

1. Project: Expanding the second phaseofHonLaPort. 2. Location: Hon La Economic Zone, Quang Dong district, Quang Binh province. 3. Project owner: Petroleum Technical Service Corporation (PTSC). 4. Capacity:1.2milliontons/year. 5. Investment Capital: US$ 21.2 million. 6. Economic efficiency: NPV: US$3.8million.IRR:12.94%. 7. Maximum foreign equity ownership:49%oftheProject. 8. Purpose: to supply goods demand through area for socio economic development of Quang Binh province, construction and operation of manufacturing factories in Hon La economiczone,aswellascementindustryintheprovince. 9. Mainparameters: No. 1 Landarea:9ha; HonLagulfarea:9km2; ForecastofgoodstransportingthroughHonLaport: Descriptions Goodsforsocioeconomic developmentinQuangBinh province GoodsforHonLaeconomiczone Unit Tons/year 20102015 20152020 450,000 650,000

Tons/year

360,000

1,350,000

ProjectSummary

Page55of95

VietnamOilandGasGroup

Goodsforcementindustry Total

Tons/year Tons/year

450,000 1,260,000

1,200,000 3,200,000

10. Trafficsystem: 3kmfromNationalHighway1A; 179kmfromChaLo(VietnamLaosbordergate); 301kmfromTaKhet(LaosThailandbordergate); 40 km from Song Gianh cement factory, through National Road No. 1 and No. 12; 61kmbywaterwayfromGianhriver; 5.56nauticalmilesfromcoastalmaritimeroutes; 360kmfrominternationalmaritimeroutesoftheEastSea; InthemiddleoftwolargecentralportsinDaNangandHaiPhong; DistancefromHonLaporttootherportsintheregionisasfollows: o NghiSonport: 110km o CuaLoport: 74km

o BenThuyport: 79km o XuanHaiport: 76km o VungAngport: 25km o Gianhport: o NhatLeport: o CuaVietport: 25km 65km 369km

o HaiPhongport: 664km o DaNangport: 11. Currentstatus: 100m existing jetty with capacity up to 10,000 DWT started operating in April 2009. 115mjettyexpectedtostartoperationin2011withcapacityupto10,000DWT or simultaneously 02 ships with less than 10,000 DWT in order to push up port capacityto1.2milliontons/year. 386km

ProjectSummary

Page56of95

VietnamOilandGasGroup

12. Projectattractiveness: Thenaturalbreakwaterhelpsprotecttheportfromwavesandwind. Convenientlocationforexpansiontoaccommodateshipsupto100,000DWT. DemandsarehigherthancapacityofHonLaPort.

PetroleumService PortinVungTauCity

ProjectSummary

Page57of95

VietnamOilandGasGroup

PVTRANSINTERNATIONALPORTPROJECT (SectorIII:SeaportProject:III4) 1. Project:PVTransInternationalPort. 2. Location:DzungQuatEconomicZone, BinhThuancommune,BinhSon district,QuangNgaiprovince. 3. Owner:PetrovietnamTransportation Corporation(PVTrans). 4. Capacity:vesselsupto50,000DWT. 5. InvestmentCapital:US$37.3million. 6. Economicefficiency: NPV:US$10.58million; IRR:15.44%; PaybackPeriod:12years.

7. Financing:Equity/Debtratio:30/70. 8. Maximumforeignequityownership: 49%oftheProject. 9. Purpose: To transport cargo for Dung Quat Economic Zone and provide logistics services for PV Trans fleets and for other clients. Transportation demands are estimated at 1.2 1.7 million tons/year from 2010 and 2.9 4.3 million tons/yearby2020. To meet logistics demands for PVTrans and other companies ships. The logistics arrangements are very important to PVTrans since it will be responsible for frequent transportation of 6,500 KMTA Dung Quat Refinery crudeoilandoilproducts.

10. Mainparameters: Totallandarea:16.2ha; Totalwaterarea:2.9ha; Berthlength:290m; Officebuilding:2,000m2; Warehouse:


Page58of95

ProjectSummary

VietnamOilandGasGroup

o ContainerFreightStation(CFS):2,700m2; o Generalcargowarehouse:4,095m2; o Factory:1,404m2,forreparationandstorageofequipment. Outdooryard: o Containeryard:14,070m2; o Emptycontaineryard:2,800m2; o Generalcargoyard:31,760m2; Utilities: fuel station, water pump station, transformer station, 80ton balance, firefightingequipment. Technology: o Packedgoods:cranes,trucks,forklifts. o Unpackedgoods:cranes,conveyors,trucks o Container:cranes,trailers,reachstackers/forklifts. 11. Constructionschedule:20112015 12. CurrentStatus:Developingconstructiondesign. 13. ProjectAttractiveness: Only1.37%ofVietnamportscanreceivevesselsover50,000DWT. NearbyDungQuatEconomicZone. The project receives special investment preferences and support from the GovernmentandPeoplesCommitteeinQuangNgaiProvince.

ProjectSummary

Page59of95

VietnamOilandGasGroup

PETROVIETNAMTRANSPORTATIONCORPORATION COMPANYPROFILE (SectorIII:SeaportProject:III5) 1. Companyname:PetroVietnam TransportationCorporation (PVTrans). 2. Location:4thFloor,H3Building, 384HoangDieuStreet,Ward6, District4,HoChiMinhcity. 3. Dateofestablishment:May27, 2002. 4. Operationlicense:Business CertificateNo.0302743192dated March30,2010 5. Plannedcharteredcapital contribution: Year 2010 2011 2012 2013 2014 2015 125.7 127.1 143.2 156.4 193.7 248.5
Project

CharterCapital(US$million)

6. Equity(asofDecember31,2009):US$77.8million

7. Liabilities(asofDecember31,2009):US$223.7million 8. Shareholders: - PVN: 58.40% 41.60% 100%

- Minorityshareholders: Total

9. Businessactivities - Owning,operatingandcharteringcrudeoil,oil products,gasproducts,andchemicaltankersaswell asoffshoresupportvesselsandothercargoships; - Owning,operatingandcharteringFPSO/FSO; - Providingoffshorepetroleumtechnicalservices includingmarinesurvey,fabrication,installation,maintenanceandrepairofoil andgasfacilities; - Operatingonshoreportlogisticsandsupplybases;


ProjectSummary

Page60of95

VietnamOilandGasGroup

- Supplyingmanpowerformarineandoffshorecrew;

- Shipbrokerageandagency;andotherrelatedmarineservices;

- Roadandinlandwaterwaytransportationincludinggastaxis,LPGtrucksand busses; - Freightforwardingandinternationalmultimodaltransportation;

- Procurementandsupplyofmaterialsandequipmentforoilandgasand transportationindustries; - Othercommercialandfinancialinvestmentservices. 10. Revenue(2009):US$111.9million 11. Netprofit(2009):US$0.47million 12. ROE(2009):0,60%.

13. ExpectedNetprofit(2010):US$6.8million 14. ExpectedROE(2010):2,23%

15. Maximumforeignequityownership:partnersarewelcometodiscussthe participationpercentageupto18%PVTransshares. 16. Otherinformation

- MarinebusinessissupportedbytheVietnameseGovernment; - PVTransisthebiggestVietnamsshippingcompanyinOilandGas transportation;

- 100%crudeoilinputand100%gasoline&dieseloutputforDungQuatRefinery whichwillcover33%ofgasoline&dieseldemandinVietnam; - CommitmenttoHSEDNVISO9001:2008;

- Opportunitiestooperatesupplyservices,includingtransportofcrudeoiland oilproductsforPVNsrefineryNo2&3in2014&2015;coalsfor05PVNs powerplants; - PVTranswaslistedonHochiminhStockExchangein2007withcode(PVT). ENDOFSEAPORTSECTOR

ProjectSummary

Page61of95

VietnamOilandGasGroup

SECTORIV

REALESTATE &INDUSTRIALPARK

PETROVIETNAMHEADQUARTER OFFCICE

ProjectSummary

Page62of95

VietnamOilandGasGroup

DANANGRIVERSIDEHOTEL (SectorIV:RealEstate&IndustrialParkProject:IV1) 1. ProjectName:DanangRiversideHotel. 2. Location:A30TranHungDaoSt.,Son TraDist.,DaNangcity,VietNam 3. ProjectOwner:MienTrungPetroleum ConstructionJSC(PVCMT). 4. Projectobjectives: Diversificationofindustries,strategic developmentofthepetroleum industryVietnamto2015and orientationto2025ofVietNamoil andgasGroup. Increasingbrandforcorporationsas wellascompaniesinCentralViet Nam,increasingthevalueofshares onthemarket. Creatingstableandlongterm revenueforcompany.
Project

MeetingthestrategicdevelopmentofcompanyinCentralVietNam. Facilitatingthedevelopmentofurbaninfrastructuresystems,providingtravel servicestouptodatestandardsintermofcommunitysatisfaction. ContributingtoDaNang'sfundsoftravelservicesandothersfundprojectsfor tourismindustry,creatingmorechoicesforaccommodationneedsoftourists, expertsandentrepreneursinthecountry. Contributingtothestatebudgetthroughtaxes.

5. Capacity: a) DaNangRiversidehotel(ExistingStage1):14storeyshoteland3storeys restaurant. 14Apartments; 06SuiteRooms; 33SuperiorRooms; 54Deluxe/VIPRooms; 02ConferenceRooms: Capacityfrom20to700


Page63of95

ProjectSummary

VietnamOilandGasGroup

guests,equippedwithmodernfacilitiesforprofessionalmeetings, conferencesandseminars; 01Restaurant(FoodandBeverage):Nowarmspace,openspaceandluxury with700guests,isdecoratedsplendid,soundequipment,lighting.

b) DanangRiversidehotel(Expansionstage2). 21floorsTowerincludedCommercialCenter,53rentaloffices,153 apartmentsandrecreationalareas.

6. Schedule: 1.DanangRiversideHotel(Stage01,Existing):UnderOperating 2.DanangRiversideHotel(Stage02):LookingforcoInvestors 7. Totalinvestmentcapital: 1.DanangRiversideHotel(Stage01,Existing):US$9.1million 2.DanangRiversideHotel(Stage02):EstimateofUS$27.6million 8. Economicefficiency:NPV:USD$9,8million;IRR:12,12% 9. Maximumforeignequityownership:Tobediscussed 10. Attractiveness: LocatedintheheartofDanangCityontheHanRiverlookingoverthedowntown business district 2 kilometers from the international airport and the railway station. Nearby Cham Museum, 2 kilometers from The Son Tra Peninsula providing scenic beauty with mountains (Marble Mountain), coastal views and beachesfortheecologicaltourist

DaNangRiversideHotelatFireworksFestivalnight

ProjectSummary

Page64of95

VietnamOilandGasGroup

TANVIENINTERNATIONALLUXURYTOURISTAREA (SectorIV:RealEstate&IndustrialParkProject:IV2) 1. ProjectName:TanVienInternational LuxuryTouristAreaProject. 2. ProjectOwner:PetrovietnamPremier RecreationJointStockCompany(PVR). 3. Location:BaViDistrict,HanoiCity, Vietnam 4. Projectobjectives:TourismComplex, Golf&Resorts... 5. Capacity:1204ha(includesislandarea &exclusivewaterarea) 6. Schedule:20102020 PHASE1(20102013):158.34ha A18holegolfcourseonisland (Privatecourse) Villasandresort Gambling 5starhotelandluxuryspa Waterpark LightTower TourismServicescenter
Project

7. Totalinvestmentcapital:US$234.5 million 8. Economicefficiency:NPV:US$15.2 million;IRR:16,04%;Payback:5,5years; 9. Maximumforeignequityownership:Tobediscussed. 10. Currentstatus: - Detailplanofconstructionscaled1/500isundersubmissionforapproval; - CarryingoutCompensationandLandAcquisition; - MakingInvestmentProjectonInfrastructureforlandproviding.
ProjectSummary

Page65of95

VietnamOilandGasGroup

11. Attractiveness: - StrongsupportfromHaNoiauthrorities - OneofthemostattractiveinlandresortinVietNam - 40kmfromthecenterofHaNoi

ProjectSummary

Page66of95

VietnamOilandGasGroup

CT1011BUILDINGOFVANPHUNEWURBANAREA (SectorIV:RealEstate&IndustrialParkProject:IV3) 1. ProjectName:CT1011BuildingofVan PhuNewUrban 2. Location:VanPhuNewUrban,HaDong district,Hanoi 3. ProjectOwner:PetrovietnamPremier RecreationJointStockCompany 4. Objectives:ResidentialComplex Buildingandservices 5. Capacity: Landarea:7.023m2 Buildingdensity:49.70% Constructionareas:3,490m2 Numbersoffloors:39 NumbersofBasement:2 Totalfloorareas:112.055m2 Investmentpreparation:Quarter III/2010 Startingdate:QuarterIV/2010 Handoverdate:QuarterIV/2014 7. Totalinvestment:US$71million. 8. Economicefficiency: NPV:14,4%; IRR:15,07%; Payback:3yearsand11months.
Project

6. Schedule:20102014

9. Maximumforeignequity ownership:Tobediscussed. 10. Currentstatus:Carryingout discussioninordertosigntheContractoflandandprojectstransfer. 11. Attractiveness LocatedinoneofthehottestnewurbaninHaDongDist. Readyforconstruction.

ProjectSummary

Page67of95

VietnamOilandGasGroup

HALONGPLAZA (SectorIV:RealEstate&IndustrialParkProject:IV4) 1. Project's name: Halong Office and HotelPlaza. 2. Location: Clock Tower, Tran Huong DaoDistrictandBachDangDistrict,Ha LongCity,QuangNinhProvince. 3. Owner: PetroVietnam Premier Recreation Joint Stock Company & Megastar Real Estate Joint Stock Project Company 4. Summary: Halong Office and Hotel Plaza is one of the major projects in Ha Long city with 02 modern buildings of 21 storeys, separated functional space.BeingthelandmarkoftheClock Tower, the buildings will satisfy accommodation demands for tourists of Halong Bay the World Heritage Site. 5. Totalarea:10,000m2. 6. Schedule:ConstructionstartedonFebruary3/2010andwillcompletein2013. 7. Totalinvestment:US$47.1million. 8. Economicefficiency:NPV:1.5million;IRR:14.4%. 9. Currentstatus: Underconstruction. 10. Maximumforeignequityownership:Tobediscussed. 11. Attractiveness: - LocatedinthemostexpensiveareainQuangNinhProvince; - Readyforconstruction.

HaLongPlazalocatedinHaLongBay theWorldHeritageSite ProjectSummary

Page68of95

VietnamOilandGasGroup

PHUOCKHANHRESIDENTIALAREA (SectorIV:RealEstate&IndustrialParkProject:IV5) 1. Projectname:PhuocKhanhResidentialArea. 2. Location: The project is located on 54.8 ha area in Phuoc Khanh Commune, Nhon Trach District,DongNaiProvince The Northern area borders with Ong ThuocRiverandTacMieuirrigationditch. TheSouthernareaborderswithHuongroute toPhuocKhanhPeoplesCommittee. The Eastern area borders with resettlement areaofPhuocKhanhcommune(phase2). The Western area borders with small irrigationditch.
Project

3. Projectowner:PetroVietnamPowerReal EstateJSC(PVPowerLand). 4. Purpose: Infrastructureconstructionfor PhuocKhanhResidentialArea. 5. Capacity: 8,000habitants. 6. Schedule: PhaseI: Investmentpreparation: Relocationandcompensation: QII/2008QIV/2009

QIII/2010QIV/2011

Technicalinfrastructureconstruction: QIII/2011QI/2013 Equipmentprocurement: QIV/2011QII/2013

PhaseII: Relocationandcompensation: QIV/2013QIV/2014

Technicalinfrastructureconstruction: QIV/2013QIV/2014 Equipmentprocurement:QIII/2014QI/2015"

7. Totalinvestmentcapital:US$36million 8. Economicefficiency: NPV:US$500,000;


Page69of95

ProjectSummary

VietnamOilandGasGroup

IRR:17,26%;

9. Currentstatus:Investmentpreparation 10. Maximumforeignequityownership:tobediscussed. 11. Attractiveness: SuitablewiththeMasterPlanofNhonTrachcity;andthedetailedplan1/500ofPhuoc Khanhresidentialareaisapproved; Convenienttrafficroadtothecentralofcommunesandsurroundingareas. Pureenvironment,favorablewaterdrainagesystem; The project land comprises most of empty and arable land, easy for land transfer and clearance.

PerspectiveDrawingofPhuocKhanhResidentialArea

ProjectSummary

Page70of95

VietnamOilandGasGroup

VUNGTAUPETROLEUMNEWURBANAREA (SectorIV:RealEstate&IndustrialParkProject:IV6) 1. ProjectName:VungTauPetroleum NewUrbanArea. 2. Location:Ward11,VungTaucity,Ba RiaVungTauProvince 3. ProjectOwner:PetrolandandPVCIC. 4. Objectives:Creatinganewurban ecologydifferfromothernewurban areasthathavebeenbuildingatVung TauandHoChiMinhCity.Creating landandhousingfundforlongterm service 5. Capacity:69.46ha 6. Schedule:20102019 7. Totalinvestmentcapital:US$75 million 8. Economicefficiency:expectedIRR=30% 9. Currentstatus: Approved by Ba Ria Vung Tau people Committee on the investment plan and placefortheproject Approved by Ba Ria Vung Tau People Committee on the general plan of the compensation,resettlementassistance
Project

10. Maximumforeignequity ownership:Tobediscussed 11. Attractiveness: StrongsupportfromVungTau authrorities; Proximitytothebeach

PerspectiveDrawingofVungTaunewurbanarea ProjectSummary

Page71of95

VietnamOilandGasGroup

PVINCONESSCOMPANYPROFILE (SectorIV:RealEstate&IndustrialParkProject:IV7) 1. Companyname:PVINCONESS Investmentjointstockcompany. 2. Address: HQ 1: 226 Hoang Ngan, Trung Hoa, Cau Giay District, Ha Noi City. HQ2: Hamlet 4B Dong Son commune, Tam Diep Town, NinhBinhProvince 3. Operation Registration: No 0103017981 issued by Planning and Investment Department of HanoiCity. 4. EstablishedDate:June152007. 5. Registered Capital: US$ 16 million. 6. Capital Investment Contribution Schedule: 100% capital is contributed. Equity:US$16.8million. Liabilies:US$10.6million. PVN: 25,38% StrategicShareholders:18,70% Publicandothers:55,92% Investmentconsultancy,businessmanagement; Domesticbusinesstravel,internationaltravelandotherservicesfor tourists; Businessaccommodation,tourismservicesgarden,foodservicedocks anddrinkandotherservicesforguestentertainment. US$0.3million US$0.2million
Project

7. Shareholders

8. BusinessActivites

9. Turnover2009: 10. NetProfit2009:

11. ReturnonEquity: 1,13% 12. ExpectedNetprofit2010: N/A. 13. ExpectedROE2010:N/A. 14. Maximumforeignequityownership:49%.
ProjectSummary

Page72of95

VietnamOilandGasGroup

15. Attractiveness: StrongsupportofstateauthoritiesinNinhBinhProvince; NomoreGolfCourseatinternationalstandardisallowedtobedeveloped; Communicationisconvenient,locatedonthemainnorthsouthroad; Thecompanyhascompleted18holegolfcourseandotherfacilities.

PVINCONESSs18holegolfcourse

ProjectSummary

Page73of95

VietnamOilandGasGroup

HONKHOIINDUSTRIALZONE (SectorIV:RealEstate&IndustrialParkProject:IV8) 1. Project'sname:HonKhoiIndustrial Zone. 2. Location:NinhHoa,NhaTrangcity 3. Owner:SaoMaiBenDinhPetroleum InvestmentJSC(PVSB) 4. Purpose: HonKhoiPetroleum IndustrialZone 5. Capacity:350ha a) Oilandgasservicearea(70ha) 02 berths for importing and exporting goods and materials for 10,000DWTship Supply area for materials and equipment for drilling and other offshore activities Areaformanufacturing,pipecoatingandconcretestructure Generalwarehouseservices
Project

b) Areaforshipbuilding,drillingplatformandmeansoffloatingtransportation (100ha) Dock for newly building and repairing drilling platform and means of floating transportation Dockfornewlybuildingandrepairingships; 614meterwharfstoreceivematerialscombinedwiththeoutfittingberth Liftingfor10,000DWTships; Yardforfabricationandreceiptofmaterials,repairmentandinternalroad; Workshops including electricity, machinery, assembling, manufacturing, wooding,pipes,maintenance,paintandrepair; Generalwarehouse.

c) GeneralPortarea(80ha) 01generalportharbourfor30.000DWTvessels; 02generalportharbourfor20.000DWTvessels;


ProjectSummary

Page74of95

VietnamOilandGasGroup

Generaldepotandinternalway; Generalwarehouse. d) OilandLPGwarehouses(50ha) BerthforimportingandexportingoilandLPG Oilwarehouses LPGwarehouse e) Logisticsareaandentranceroad(45ha) Logisticarea Generalwarehouse Officeandadministrativearea Accommodationandentertainmentareaforstaff Roadtraffictoport 6. Schedule:20112017; 7. Projectlife:50years 8. Totalcapitalinvestment:US$1,919million 9. Economicefficiency: ProfitaftertaxofProject:US$7,167million Expectedtimeofcapitalreturn:16Years

10. Currentstatus:Investmentpreparation 11. Maximumforeignequityownership:49% 12. Incentives:

Corporate income tax (CIT) of 10% for 15 years from the commencement date ofoperationoftheinvestmentprojects; 10% CIT for hitech investment projects and investment projects in Van Phong EconomicZone; 50%reductionofpersonalincometaxapplicableforhighincome; 5 years of import tax exemption starting from the operation date and applicable for production of raw materials, supplies, components and semi finished.

ProjectSummary

Page75of95

VietnamOilandGasGroup

DANTIENINDUSTRIALZONE (SectorIV:RealEstate&IndustrialParkProject:IV9) 1. Project's name: IndustrialZone. Dan Tien

2. Location: Dan Tien commune, Khoai Chau town, Hung Yen Province: Located in the areas of Dan Tien, An Vi, Phung Hung communes, Khoai Chau town, andDanTancommune Northern border next to newly planned road, farmlandofTanDancommune. Southern border connected to the Provincial Road 204, an important traffic routelinkwithNationalRoad39and5BHanoiHaiphonghighway. Easternbordersnexttofarmlandarea. WesternbordernexttoEasterncanalandfarmlandarea.
Project

3. Owner:PetroVietnamPowerRealEstateJSC(PVPowerLand) 4. Constructionpurpose:Industrialzone(PhaseI:150ha) 5. Capacity: PhaseI:150ha; PhaseII:100ha.

6. Timeline: QII/2010: Formulate, evaluate and approve project investment report; scheduledtobecompletedinearlyQIII/2010; QIV/2010:Siteclearanceandcompensation; QI/2011: Select contractors to perform technical infrastructure, expected to be completedinQIII/2012.

7. Totalinvestmentcapital:US$70.3million 8. EconomicEfficiency: NPV:US$1.3million;


Page76of95

ProjectSummary

VietnamOilandGasGroup

IRR:21.9%.

9. Current status: Formulating, evaluating and submited project investment report forapproval,projectedcompletioninearlyQIII/2010 10. Maximumforeignequityownership:Tobediscussed 11. Attractiveness: SupportedbytheGovernmentandlocalauthorities Tenantsinindustrialzonesenjoytaxincentivesandrapidprocedures Convenient transportation to the North and Northwest, the Northeast EconomicZoneinthecapital,bybothwaterwayandairway. The project is under the States Master Plan of Economic Restructure in Agriculture,IndustryandServices.

Planningschememapofnorthern region

ProjectSummary

Page77of95

VietnamOilandGasGroup

LAIVUINDUSTRIALPARK (SectorIV:RealEstate&IndustrialParkProject:IV10)

1. Project'sname:LaiVuIndustrialPark. 2. Location:LaiVuvillage,KimThanh district,HaiDuongProvince(Northof Vietnam),1hourdrivingfromHanoi city 3. Owner:PetroVietnam 4. Objectives: Project - Manufacturingmachinery, shipbuildingindustry,automobile spareparts,motorbikes,farm machineryandassemblingcars, gas,garment,etc; - Producingelectron,shiping,air conditioning; - Produducingandinstalling education,sportsandofficeequipment - Producingnewtechconstructionmaterial. 5. Legalbase: - DecisionNo.1106/QDTTgdated18/10/2005ofPrimeMinisteronapproval VietNamIndustrialZoneto2015; - DecisionNo.2326/QDUBNDdated25/06/2007ofthePeople'sCommittee HaiDuongprovinceonapprovaldetailplanning; - DecisionNo.926/QDDTTgdated18/06/2010ofPrimeMinisteronthe RestructuringofVinashinGroupandTransferprojectstoPVN. 6. Project'slife:45years. 7. Capacity:212.9ha. 8. Totalcapitalinvestment:US$34.4million 9. Economicefficiency: - NPV:US$3.4million; - IRR:17.79%. 10. Currentstatus: - CompletionofInternaltransportsystem,Powersupplysystem,Waterand Surfacewaterdrainagesystems - Undercompletionofwastewaterdrainagesystem - Underleasingforsomecustomers
ProjectSummary

Page78of95

VietnamOilandGasGroup

11. Maximumforeignequityownership: Tobediscussed 12. Attractiveness: - StrongsupportfromstateauthoritiesinHaiDuongprovince - Somemanufactoriesarebuiltandproducing - LocatedinkeyeconomictriangleofHaNoi,HaiPhongandQuangNinh,very convenientfortransportationbyNationalHighway(No.5),riverandsea - Port complex synthesis of Shipbuilding Industrial Zone Lai Vu, Kinh Thay Rivernorth,rivercruiseshipstotheportisandbarges.Bydesignthelargest tonnage of ships and barges through the Port is 1000DWT, the amount of cargo through the port every year is 1,000,000 DWT (in which approximately 300,000 DWT container, packing: bulk 350,000 DWT and 350,000 DWT). Port cluster storage system with a total area of the yard: 13,990 m2 warehouse areas are 3.965m2. Port group is ongoing constructionandwillsoongointooperation.

ProjectSummary

Page79of95

VietnamOilandGasGroup

SOAIRAPINDUSTRIALZONE (SectorIV:RealEstate&IndustrialParkProject:IV1) 1. ProjectName:SoaiRapIndustrial ZoneInfrastructureService BusinessProject. 2. Location:SoaiRapIndustrialzone, VamLangGiaThuanCommune, GoCongDongDistrict,Tien GiangProvince 3. ProjectOwner:PetroleumPipeline andTankConstructionJoin StockCompany(PVCPT) 4. Objectives:Providingof Projectgroundrentservices Portservices

5. Capacity:285ha. 6. Constructionschedule: Stage1:20102013(30%); Stage2:20132016(30%); Stage3:20162020(40%)


Project

7. Totalinvestmentcapital:US$40 million. 8. Economicefficiency:IRR25%. 9. Maximumforeignequityownership:Tobediscussed 10. Currentstatus: ENDOFREALESTATE&INDUSTRIALPARKSECTOR Leveling; Approvalof1/2000design Completingtherestoflegalprocedure. BeingconsideredasthemostimportantindustrialzoneofPVNinSouthernof Vietnam ApartofprojectisimplementedattheendofOctober2010(approvedbyTien GiangCommittee).

11. Incentives/Otherinformation:

ProjectSummary

Page80of95

VietnamOilandGasGroup

SECTORV

INFRASTRUCTURE &FACILITIES

PTSCsPetroleumServicePortinVungTau

ProjectSummary

Page81of95

VietnamOilandGasGroup

RINGROADNO.2,HOCHIMINHCITY (SectorV:Infrastructure&Facilities.Project:V1) 1. Projectname:TheSouthern SectionRingRoadNo.2,HoChi MinhCity. 2. Location:Passingbythreedistricts, includingDistrict8,BinhTanDist., BinhChanhDist.,HoChiMinhCity. 3. ProjectOwner:PETROLAND. 4. Objectives:TheRingRoad2 togetherwithotherringroads guaranteesforlongterm stabilizationandeffectiveoperation ofHiepPhuocandCatLaiseaports whichhelptodispersetrafficflows, tosavesoverloadtrafficcondition onthecentrezoneofthecity. 5. Capactity: TotalLength:7.7km. Width:10Lanes(60m) CityhighwayRoad. 6. Schedule:60months. 7. Totalinvestment capital:~US$331 million 8. Maximumforeign equityownership:49%. 9. Currentstatus: PreparingFeasibility Study. 10. Attractiveness/Otherinformation: StrongsupportfromHoChiMinhcityauthrorities. Investmentform:BuildTranfer(BT)

Project

ProjectSummary

Page82of95

VietnamOilandGasGroup

TANKFABRICATIONPLANTPROJECT (SectorV:Infrastructure&Facilities.Project:V2) 1. ProjectName:TankFabrication PlantProject. 2. Location:SoaiRapIndustrialzone, VamLangGiaThuanCommune,Go CongDongDistrict,TienGiang Province 3. ProjectOwner:PetroleumPipeline andTankConstructionJoinStock Company(PVCPT) 4. Objective:Fabricationof Pressuresphericaltank Cylindricaltank Othermechanicalproduct 5. Capacity: Sphericaltank:4,0005,000 ton/year Cylindricaltank:10,00012,000 ton/year Otherproduct:10,000ton/year
Project

6. Schedule:Asplanned,theplantwouldbecompletedinDecember2010 7. Totalinvestmentcapital:US$18.5million; 8. Economicefficiency: NPV:US$9.6million; IRR:23.43%.

9. Maximumforeignequityownership:Tobediscussed. 10. Currentstatus:Appraisingthefeasibilitystudy 11. Incentives/Otherinformation: AlloutputswillbeusedinPVNprojects LocatedinthemostimportantindustrialzoneofPVNinSouthernofVietnam

ProjectSummary

Page83of95

VietnamOilandGasGroup

LONGITUDINALWELDEDSTEELPIPEPRODUCTIONFACTORY (SectorV:Infrastructure&Facilities.Project:V3) 1. ProjectName:LongitudinalWelded SteelPipeProductionFactory. 2. Location:SoaiRapIndustrialZone, TienGiangProvince,SRVietnam 3. ProjectOwner:PetrovietnamSteel PipeJointStockComapany(PVPIPE) 4. Objectives:Productionsteelpipefor oil&gaspipelinesandfabricationof drillingrigjacket 5. Capacity:~200,000tonssteel pipes/years 6. Constructionschedule:First production~October2011 7. Totalinvestmentcapital:US$95.4 million 8. Economicefficiency: NPV:US$2.8Million IRR:34,96% 9. Maximumforeignequityownership:30%49%ofthetotalchartercapital 10. Currentstatus:Theprojectisimplemeting 11. Attractiveness: AlloutputswillbeusedinPVNprojects LocatedinthemostimportantindustrialzoneofPVNinSouthernofVietnam
Project

ProjectSummary

Page84of95

VietnamOilandGasGroup

FSOBIENDONG1 (SectorV:Infrastructure&Facilities.Project:V4) 1. Project name: Bien Dong 1 Project FSOFacilities. 2. Location: Blocks 052 & 053, offshoreVietnam 3. Owner: Petroleum Technical ServicesCorporation(PTSC) 4. Capacity:350,000bbls 5. Total investment capital: US$120 million. 6. Structure of equity ownership: Openfordiscussion 7. Purpose: Bien Dong Petroleum Operating Company (BDPOC) is the Operator of Blocks 05.2 and 05.3, offshore Vietnam. BDPOC intends to develop these blocks by installing gas and condensation of production and exporting facilities into the Moc Tinh and Hai Thach fields (Bien Dong Development Project). This will requireawellheadplatforminMocTinh,WHPMT1,tiedbacktotheHaiThach development, which will consist of another wellhead platform, WHPHT1, a processquartersplatform,PQPHT,andanFSO. TheFSOvesselismooredatalocationnearthePQPHTanddesignedtoremain permanently on station, even in severe environmental criteria. The FSO shall comply with Classification and Vietnamese regulations and the contract requirements for tank arrangement/ storage, accommodation, utilities offloadingandhealth,safetyandenvironment(HSE). PetroVietnam Technical Services Corporation (PTSC) has been officially nominated by BDPOC to arrange the Provision of FSO Services. Based on Request for Proposal (RFP) for the Provision of FSO Services issued by BDPOC on the 10th April 2010, PTSC shall issue an invitation to bid (ITB) and conduct the tender for the provision of FSO Bareboat services via a competitive tender process with the terms and conditions permitting PTSC to purchase the FSO system.

Project

ProjectSummary

Page85of95

VietnamOilandGasGroup

InvestorscancontributetotheownershipoftheFSOsystemduringthecharter period. 8. Projectschedule: Tenderprocess: Item ChronologyofEvents

InvitationtoBid(ITB) 1. BDPOCtoissuetheRFP 2. PTSCtosubmittheITBincludingtheTenderPlantoBDPOC 3. BDPOCtoapprovetheITB 4. BidIssuance 5. BidClosing TenderEvaluation&Award 6. TechnicalBidOpening 7. ApprovalofTechnicalEvaluationResults 8. CommercialBidOpening 9. ApprovalofCommercialEvaluation 10. ApprovalofBidEvaluation&AwardRecommendationReport 11. IssueLOAtoSuccessfulBidders/Contractnegotiation 12. Contractsigning Constructionworks: KeyMilestone Description KM1 Commencementdate KM2 AwardofFSOconstructioncontracttoshipyard. KM2 Tanker acquisition and delivery to designated conversion yard (Conversion completed. Case) KM3 AllmajorpurchaseordersissuedforFSOsystem KM4 AllmajormaterialsandequipmentdeliveredforFSOsystem. KM5 Turret mooring system fabrication, mechanical completion, testing, precommissioningcompletedreadyforinstallationintoFSO. KM6 ProvisionalacceptanceofFSOsystem FSOsystemcompletedasaunit,precommissioned,andreadytosail forHaiThachsite,block05.2,offshoreVietnam.Thecompanyhas issuedtheprovisionalacceptancecertificate. KM7 Installationstartdate MarineconstructionspreadandFSOsystemfullymobilizedatHai Thachsiteandreadyforinstallation. KM8 Installationcompletedate FSOsystemhasbeeninstalledandflexiblerisersconnectedandtested
ProjectSummary

Page86of95

VietnamOilandGasGroup

KM9

KM10

andmarineconstructionspreaddemobilized Readyforfirstcondensate FSOsystemcommissionedandreadyforreceivingstabilized condensate.Companyhasissuedthereadyforfirstcondensate certificate.Commencementofcharterperiod. FinalacceptanceofFSOsystem Performance&reliabilitytestscompletedandtheCompanyissuedthe FinalAcceptanceCertificate.

Charterperiods:
Activity FirmCharter Period 1stOptional ExtensionPeriod 2ndOptional ExtensionPeriod 3rdOptional ExtensionPeriod 4thOptional ExtensionPeriod
Durat ion

10 years 5 years 2 years 2 years 1 year

9. Current Status: Under preparation for Detailed Design, Procument and Manufacturingfacilities.The"firstcut"takenbyVSPandPTSCfrom21/06/2010. 10. ProjectAttractiveness:EnsuretheProject'soutputbyBDPOC.

ProjectSummary

2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032

Page87of95

VietnamOilandGasGroup

FSOPROJECTBACHHO (SectorV:Infrastructure&Facilities.Project:V1) 1. Project name: Bach Ho Project FSO Facilities. 2. Location: Blocks 091, Vietnam,offshoreVietnam offshore

3. Owner: Petroleum Technical Services Corporation(PTSC) 4. Capacity: 1,000,000 capacity:100,000bpd bbls. Inlet

5. Total investment capital: US$ 210 million 6. Structure of equity ownership: Open fordiscussion 7. Purpose: Provision of FSO Facilities forthedevelopmentofBachHo(WhiteTiger)fields. -

Project

VietsovpetrohasbecomemainforceofVietnamspetroleumindustryand economy.ThreeoilfieldswithcommercialoilWhiteTiger,DragonandBigBear werediscoveredandbroughtintoproductionwithlowexplorationcosts,besides4 adjacentstructureswithhydrocarbonindication.Inparticular,discoveryofbigoil reservoirinWhiteTigerbasementhasbeenanessentialfactortoincreaseoil output,andatthesametimetoattractforeigninvestmentintoVietnamese petroleumindustry. BachHoisVietnam'slargestOilFieldwasfoundin1975andstanding3thOil ReservewasdiscoveredinthebeltoftheNorthWestregionprovision.BachHo crudeoiliswaxy,withverylowsulfurcontent.Asagoodquality,sweetoil, VietnamesecrudeoilishighlyfavoredbycustomersfromJapan,Singapore,and othercountries. FSOPTSCBachHoismooredatthelocationatUBN2position,200nauticalmiles fromVietnamesecoastanddesignedtoremainpermanentlyonthestation,even insevereenvironmentalcriteria.TheFSOcompliedwithdualClass(ABS/VRES)and Vietnameseregulationsandthecontractrequirementsfortankarrangement/ storage,accommodation,utilitiesoffloadingandhealth,safetyandenvironment (HSE).

ProjectSummary

Page88of95

VietnamOilandGasGroup

PetroVietnamTechnicalServicesCorporation(PTSC)hasbeenofficiallynominated byVietsovpetrotoarrangetheProvisionofFSOServices.TheFSOPTSCBachHo wasalsoundercontractofcharteringforVietsovpetrofrom19November2009. InvestorcancontributeFinancialInvestment/Arrangementtosetupjointventure tooperateandmaintainFSO.

8. Projectschedule: 18December2006:TheFSO5projectwasawardedtoVinashin 03May2007:Itsfirstcuttingwason 22June2008:keellayingon 14January2009:Loadoutceremonywas 26April2010:theFSO5thatisnamedasPTSCBachHo,wassailedawayfrom NasicotoBachHofieldwiththepurposeofinstallationandcommissioning.

9. CurrentStatus: ThetargetfirstoilinOctober,2010andcontractdurationis10yearstatingfrom thefirstOil 10. ProjectAttractiveness: EnsuretheProject'soutputbyVietsovpetro Longtimecharterperiod. Capableandexperiencelocalpartner(PTSC). Opportunity to invest in coming projects as PTSC is assigned by PetroVietnam for provision and charter of FSO/FPSO for all PVN projects such as FPSO for
Page89of95

ProjectSummary

VietnamOilandGasGroup

LSJOC, FSO for Chevron, Offshore Production and Offtaking facilities for TLJOC (ifrequired) Financialinvestment/arrangementforotherongoingprojects,likeFPSORuby2 (350mil.),FSOBienDong(120mil.)andotherprojects.

PTSCsFSOBachHo

ProjectSummary

Page90of95

VietnamOilandGasGroup

DUNGQUATSHIPYARDCOMPANYPROFILE (SectorV:Infrastructure&Facilities.Project:V6) 1. Companyname:DungQuatShipyard. 2. Add.: Tan Hy commune, Binh Dong Village, Binh Son District, Quang Ngai Province,S.R.Vietnam. 3. Operation Registration: No 4300338693 issued by Dung Quat Economic Zone Authority of Quang Ngai Province, S.R. Vietnam. 4. EstablishedDate:24February2006 5. Registered Capital of the Company: USD$190million 6. Capital Investment Schedule: Legalcapital Shareholders Contribution
Project

:USD$0.5million :N/A

7. BusinessActivities -

Newbuildingandrepairofship,floatingequipmentsandvehicles. Manufacturingsteelstructureofliftingequipment(typesofcrane). Dismantleoldships,overhaulequipmentandmaterials.

8. Capacity: Totalareaofshipyard:118ha; Total area of workshop: 130.000m2; Area for preliminary hull assembly:16.500m2; Areaofstockyard; Forsteelplate:3000m2; For constructed hull block: 10.000m2.

9. Facilities: Flatsegmentmanufacturinglines:01unit; Corrugatedironpretreatmentline:01unit;


Page91of95

ProjectSummary

VietnamOilandGasGroup

Hydraulicpressmachine1.000ton:01unit; CNCIMI(9x36m),Plasma(10x30m)machine:04unit. 13Conrrugatedionbendingmachine,steelbendingmachine:01unit; Cranefrom2050ton:01unit; CNCPipingcuttingmachine:01unit.

10. CurrentProjects: Barge 180,000DWT: completion 70%

Tug Boat: 2 x 1200HP NO.1: 94%completion Oil Carrier 104,000DWT: 90% completion Oil Tanker: 105,000DWT: 60% completion Bunk Carrier: 54,000DWT: 60%completion DryDockNo.1(380x86x14)m:Beingused DryDockNo.2(520x110x14)m:underconstruction

o Buildingshiptonnageofupto300,000DWT,capacityof1.1milliontonsperyear. o Paybackperiod:11.2years o TotalInvestmentcapital:USD$129.5 o Economicefficiency:NPV=USD$61million,IRR=17.55% 11. Turnover2009 :USD$32.5million 12. ROE(ReturnOnEquity):USD$35.5million 13. ExpectedNetprofit2010:USD$1million 14. ExpectedROE2010:USD$20million 15. Maximumparticipationofforeigninvestors:tobediscussed. 16. Incentives/Otherinformation: StrongsupportfromauthoritiesinQuangNgaiProvince; Located in Dung Quat Bay which has a lot of Natural advantages and good conditions to achieve the goal to build large ships with tonnage up to 105,000DWT;

ProjectSummary

Page92of95

VietnamOilandGasGroup

Located in multifunctioned ports in deep sea thus it can receive cargoships up to 50,000DWTandoiltankersof150.000DWT.

ProjectSummary

Page93of95

VietnamOilandGasGroup

NHONTRACHSHIPBUILDINGPLANT (SectorV:Infrastructure&Facilities.Project:V7) 1.Companyname:NhonTrach SpecializedShipyardandShipFacility Manufacturer. 2.Location:Village3PhuocKhanh Commune,NhonTrachDist,Dong NaiProvince 3.Owner:PetroVietnamTechnical andServicesCorporation(PTSC). 4.Objective: Newshipbuildingand repairfloatingfacilityforPTSC 5.Legalbase: Decision No.926/QDDTTg
Project

dated 18/06/2010 of Prime Minister on the Restructuring of Vinashin Group and Transfering projects to PVN Minutes of meeting 6210/BBDKVN dated 15/07/2010 between PetroVietnam andVinashinontransferingangtakingoverNhonTrachShipyardProject 6.Capacity:20ha. 7.BusinessActivities: New building and repairing of ships, vessels floating equipment, vehicles supportingfortheoperationofoilandgasindustry. StorageandLogisticservices
Page94of95

and

ProjectSummary

VietnamOilandGasGroup

8.Currentstatus:completingFeasibilityStudy; 9.MaximumParticipationofforeigninvestors:Tobediscussed 10.Incentives/Otherinformation: StrongsupportfromstateauthoritiesinDongNaiProvinceandPetroVietnam. PTSC'sstrategyistodevelopanewshipbuildingandrepairingforPTSCfleets. ENDOFINFRASTRUCTURE&FACILITIESSECTOR

ProjectSummary

Page95of95