4:41:13 PM | 3/9/2008
Vietnam and its communist friend country Cuba August 27 clinched agreements on oil, gas, and electricity cooperation during a two-day visit by Vietnamese Minister of Industry and Trade, Mr. Vu Huy Hoang to the American country, the Vietnamese government said.
During talks of Mr. Hoang with Cuban Minister of Basic Industry, Mrs. Yadira Garcia, they said the oil and gas cooperation between two countries has yielded good results, especially after the Cuban minister's visit to Vietnam last September, Vietnam News Agency reported.
Minister Garcia praised Vietnam's recent socioeconomic achievements, especially, in oil and gas, and petrochemical industries, adding that Cuba wants to share experience with Vietnam in power saving, fertilizer and herbicide production, and mining technology.
For his part, Hoang appreciated Cuban assistance in implementing a joint project between Vietnam’s state-owned oil monopoly PetroVietnam group and Cuba’s state-run oil company Cubapetroleo (CUPET) to tap oil and gas in the Mexico gulf as well as on land.
Hoang also expressed a desire to cooperate with Cuba in mining and computer equipment production, and proposed an idea to set up trilateral oil and gas cooperation among Vietnam, Cuba and Venezuela.
Within the framework of PetroVietnam-CUPET oil and gas project, the two sides have only have completed geological study on a 4,120- square-kilometer area in the Mexico gulf and other 600-square-kilometer area on land, and are speeding up oil probe, the companies said.
PetroVietnam has so far poured more than US$226 million into 21 projects overseas, with nearly 90 per cent of the investment going to development and exploitation and the rest to exploration, mainly in Myanmar, Cambodia, Egypt, Tunisia, India, Angola, and Cameroon. (News, VNA)
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