The National Oil and Gas Group (PVN) will issue around 500 million USD to 1 billion USD in international bonds by the end of this year to mobilise capital for operating projects.

According to PVN Deputy General Director Nguyen Tien Dung, PVN is awaiting an evaluation by Morgan Stanley, a New York-based global financial services firm, and a market leader in securities, asset management and credit services, to complete procedures for the issuance.

The evaluation is expected to finish in October or November.

Dung added that money raised from the bond issuance will effectively provide capital for PVN to carry out a series of operating projects, which need 4 billion USD in investment capital through 2010./.