Oman Oil Company (OOC) and PetroVietnam signed a memorandum of understanding in Muscat Saturday for cooperation in oil and gas exploration.
The MoU included joint cooperation in production and refining operations, exchange of expertise and joint investment, Maqbool bin Ali Sultan, Oman’s minister of commerce and industry and OOC chairman, said.
He added that the MoU with PetroVietnam was part of OOC’s effort to widen its investments.
PetroVietnam is owned by the Vietnamese government and operates in oil and gas exploration, refining, and associated petrochemicals.
Vietnam’s production of crude oil is estimated at 350,000 barrel per day, and has gas reserves of 70 trillion cubic feet.
Source: Thanh Nien
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