Kuwait and Vietnam agree to execute a joint refinery and petrochemical project

23-Oct-13
Kuwaiti Deputy Prime Minister and Minister of Oil Mustafa Al-Shimali and Vietnamese Prime Minister Nguyen Tan Dung agreed to smoothly execute a joint refinery and petrochemical project and confirmed the two governments' strong commitments to strengthening bilateral ties. While thanking the Vietnamese government for creating favorable conditions for the project by supporting essential requirement to facilitate the Nghi Son Refinery and petrochemical project between Kuwait, Vietnam and Japan, Al-Shimali renewed Kuwait's commitment to supplying 100% crude oil in the long term for the vital joint venture. The US$9 billion plant, to be located in 180 km south of Hanoi, is expected to start commercial operations in 2017 with a refining capacity of 200,000 bpd, equivalent to 10 mln tpa. The petrochem project involves Kuwait, Vietnam and Japan, with state-run Kuwait Petroleum Corporation (KPC) set to supply all of its feedstock requirements.
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