PetroVietnam boosts cooperation with US partners
09:26, 2015/07/15
The Vietnam National Oil and Gas Group (PetroVietnam) and Murphy Oil Corporation have signed a memorandum of understanding (MoU) in Washington D.C to boost cooperation in oil and gas projects.
The MoU was signed by PetroVietnam Chairman Nguyen Xuan Son and President and CEO of Murphy Oil Corporation Roger W. Jenkins, on the occasion of Party General Secretary Nguyen Phu Trong’s visit to the United States.
Murphy sees the Vietnamese market as an area with long-term development potential and values PetroVietnam as a dynamic and effective partner.
The corporation is especially interested in participating in the development of the Block B gas project, the Malaysia- Tho Chu basin in Vietnam and a number of blocks in Cuu Long basin.
The corporation has invited PetroVietnam to take part in its projects in Mexico Bay.
Son and his entourage also met the Vice Chairman of ExxonMobil for the Asia Pacific region, Raymond E. Jones, and the group’s other senior officials.
During the meeting, Jones greatly appreciated PetroVietnam’s efforts along with ExxonMobil, to advance the Ca Voi Xanh (Blue Whale) project, located off the coast of Vietnam. He spoke of the project’s progress so far and about preparation to draw up plans for the gas field in future.
Son affirmed that the cooperation agreement and contracts signed with ExxonMobil will be implemented as schedule with the aim of the two companies sharing and creating the most favourable conditions to develop together.
He urged ExxonMobil to use advanced technologies to exploit the gas field in the most effective way, minimising spending and lowering costs.
He said the two sides should work together to find answers to issues such as gas consumption, the price of gas and commercial conditions.
PetroVietnam will ask the Vietnamese Government to find ways to build gas-fired power plants in the central region, as well as draw up policies to help gas distributors develop their operations in the region, he said. It will also propose investment incentives to develop the project, he added.
In 2013, an agreement on the Ca Voi Xanh platform development project was signed between the two companies in Washington, with the aim of creating a schedule, a strategy and an overall plan for the project.
The project is scheduled to begin supplying gas and power by 2021.
Murphy sees the Vietnamese market as an area with long-term development potential and values PetroVietnam as a dynamic and effective partner.
The corporation is especially interested in participating in the development of the Block B gas project, the Malaysia- Tho Chu basin in Vietnam and a number of blocks in Cuu Long basin.
The corporation has invited PetroVietnam to take part in its projects in Mexico Bay.
Son and his entourage also met the Vice Chairman of ExxonMobil for the Asia Pacific region, Raymond E. Jones, and the group’s other senior officials.
Photo for illustration
|
Son affirmed that the cooperation agreement and contracts signed with ExxonMobil will be implemented as schedule with the aim of the two companies sharing and creating the most favourable conditions to develop together.
He urged ExxonMobil to use advanced technologies to exploit the gas field in the most effective way, minimising spending and lowering costs.
He said the two sides should work together to find answers to issues such as gas consumption, the price of gas and commercial conditions.
PetroVietnam will ask the Vietnamese Government to find ways to build gas-fired power plants in the central region, as well as draw up policies to help gas distributors develop their operations in the region, he said. It will also propose investment incentives to develop the project, he added.
In 2013, an agreement on the Ca Voi Xanh platform development project was signed between the two companies in Washington, with the aim of creating a schedule, a strategy and an overall plan for the project.
The project is scheduled to begin supplying gas and power by 2021.
15:17, 2024/11/04
Hiring multitaskers: Priority for Hanoi companies
Several sectors experience increased hiring demand in the remaining months of 2024
18:17, 2024/11/03
Hanoi seeks partnerships to build skilled workforce for digital transformation
Vocational training institutions play important roles in developing a quality workforce prepared for large companies.
18:35, 2024/10/30
Hanoi to host Vietnam-Asia Smart City Summit 2024
The summit aims to share best practices and promote cooperation among Vietnam's provinces and cities in building and developing smart cities.
15:53, 2024/10/29
Vietnamese spend $8.9 billion on ecommerce
The total transaction volume in the Jan-Sep period increased by 37.7% compared to the same period last year.
14:48, 2024/10/29
Hanoi steps up inspections to crack down on unsafe food
The purpose of the survey is to gain a thorough understanding of the local food safety situation and to identify non-compliance promptly, allowing for corrective actions to be taken to mitigate health risks.
22:24, 2024/10/23
SEMIEXPO Vietnam 2024 to foster growth of semiconductor industry
The exhibition aims to develop the ancillary industry ecosystem and attract investment from the world's leading semiconductor companies.
- Hanoi targets double-digit growth over next decade
- Hanoi's industrial production shows positive growth
- Hanoi launches Vietnamese Fashion Product Brand Festival 2024
- Exhibition promotes Hanoi's key industrial products
- New partnerships forged at Hanoi Industrial Development Conference
- Hanoi addresses administrative challenges through dialogues