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Vietnam, Malaysia shore up oil and gas cooperation

The Vietnam National Oil and Gas Group had a working session with Petronas, the national oil and gas company of Malaysia, to foster the implementation of oil and gas projects between the countries.
Vietnam, Malaysia shore up oil and gas cooperation ảnh 1An oil rig of PetroVietnam (Photo: VNA)

Hanoi (VNA) – The Vietnam National Oil and Gas Group (PetroVietnam) had a working session with Petronas, the national oil and gas company of Malaysia, to foster the implementation of oil and gas projects between the two countries.

At the event, PetroVietnam General Director Nguyen Vu Truong Son spoke highly of Petronas cooperation in carrying out joint projects.

Leaders of the two companies affirmed to make concerted efforts to seek solutions to difficulties, aiming to boost the efficiency of the existing projects while seeking new cooperation opportunities.

Regarding the proposal to buy gas from Malaysia, the two sides agreed major points in the negotiations of relevant trade agreements.

The event took place during a recent visit of PetroVietnam’s delegation to Malaysia to attend a ceremony celebrating the two Governments’ ratification of a ten-year extension of the Production Sharing Contract (PSC) for the PM3 Commercial Arrangement Area (CAA).

The PM3 CAA project, involving offshore fields in the overlapping zone between Vietnam and Malaysia, brings practical trade benefits to both nations while making significant contributions to Vietnam’s oil and gas industry.

Petronas is one of the important strategic partners of PetroVietnam. The two firms have cooperated in all sectors of the oil and gas industry from oil exploration to product distribution for over 25 years.-VNA

VNA
#PetroVietnam #Petronas #oil and gas projects #PM3 Commercial Arrangement Area Malaysia
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