State-owned oil monopoly PetroVietnam group has proposed cooperation with state-owned Oman oil group (OOG) in four main areas of the oil and gas industry, PetroVietnam CEO Dinh La Thang said.
The suggested fields of oil and gas cooperation include building storage and distribution systems in Vietnam, supplying petroleum technical services, trading oil and gas products, and establishing joint ventures to invest in the oil and gas sector in other countries, state media reported April 18.
Thang April 17 made the proposal during a meeting with visiting Oman National Economy Minister and Deputy Chairman of the Financial Affairs and Energy Resources Council, Ahmed Macki in Hanoi.
The suggestion aims at developing cooperation between PetroVietnam and OOG after a memorandum of understanding that the two groups inked in the recent visit to Oman by Vietnamese Deputy Prime Minister Nguyen Sinh Hung.
The two sites will initially establish a joint working group to begin negotiations on the four proposed areas.
In near future, both sides will explore and produce oil and natural gas in the two countries in combination with operations in other countries, and will expand cooperation in other areas for the sake of equal and mutual benefit.
Currently, PetroVietnam is conducting oil and gas exploration and production in Algeria, Indonesia, Malaysia, Mongolia, Venezuela, and other countries.
PetroVietnam is also seeking to invest in Cuba, Ecuador, Iran, Kazakhstan, Myanmar and Tunisia in order to raise its crude oil production, which is facing sharp declines in domestic operations. (VNS, Pioneer)
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