OOC, Petro-Vietnam sign MoU for cooperation in oil and gas
ONA
Sunday, May 20, 2007 12:39:44 AM Oman Time
HANOI — Oman Oil Company (OOC) signed an MoU with Petro-Vietnam, the oil and gas group company in Vietnam, here yesterday for cooperation in oil and gas. Maqbool bin Ali Sultan, minister of commerce and industry and OOC chairman, signed on behalf of OOC while Dr Crown K., chairman of Petro-Vietnam, signed on behalf of his company.
After the signing ceremony, Maqbool told ONA that the MoU with Petro-Vietnam came within OOC’s strive to increase and expand its investments base in oil and gas.
The MoU includes joint cooperation in oil and gas fields and projects associated with production and refining operation, cooperation in exchanging of expertise and joint investment, he said.
Petro-Vietnam is a company owned by the Vietnam government, which operates in oil and gas exploration, oil refineries and associated petrochemicals, industries. Vietnam’s production of crude oil is estimated at 350,000 barrel per day.
It owns a gas reserve to the tune of 70 trillion cubic feet.
