PetroVietnam Gets Nod for Stake Transfer of 35 per cent

3:26:35 PM | 7/8/2005

Prime Minister Phan Van Khai agreed on March 25, 2005 for the PetroVietnam Investment & Development Company to transfer 35 percent of its stakes in the Contract of Oil Block 433a & 416b, Angieri, to the Thai PTTEP Company.

The prime minister agreed in principle on the same day to the expansion in area of Contract Oil Block 112 to Block 113, following the proposal of the PetroVietnam and relevant organizations. The corporation has been asked to closely cooperate with ministries, branches and localities to provide effective safety measures. PetroVietnam is accelerating procedures to expand the Contract of Block 112 under prevailing regulations.