Once operational in 2013, the project will meet nearly 60 percent of the country’s oil and petroleum demands and contribute to ensuring national energy security.

The complex, with investment capital of US$6 billion, is the largest oil refinery project in Vietnam. It is designed to process 10 million tonnes of crude oil per year or 200,000 barrels per day, more than 1.5 times the design capacity of the Dung Quat oil refinery.

Under the contract, which took effect on July 18, Foster Wheeler Energy Limited will have completed the designs over 16 months.

The contract is considered an important milestone in carrying out the project within the time frame the Company proposed.