The Vietnam National Oil and Gas Group (PetroVietnam) and Murphy OilCorporation have signed a memorandum of understanding (MoU) inWashington D.C to boost cooperation in oil and gas projects.
TheMoU was signed by PetroVietnam Chairman Nguyen Xuan Son and Presidentand CEO of Murphy Oil Corporation Roger W. Jenkins, on the occasion ofParty General Secretary Nguyen Phu Trong’s visit to the United States.
Murphysees the Vietnamese market as an area with long-term developmentpotential and values PetroVietnam as a dynamic and effective partner.
Thecorporation is especially interested in participating in thedevelopment of the Block B gas project, the Malaysia- Tho Chu basin inVietnam 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 forthe Asia Pacific region, Raymond E. Jones, and the group’s other seniorofficials.
During the meeting, Jones greatlyappreciated PetroVietnam’s efforts along with ExxonMobil, to advance theCa Voi Xanh (Blue Whale) project, located off the coast of Vietnam. Hespoke of the project’s progress so far and about preparation to draw upplans for the gas field in future.
Son affirmed that thecooperation agreement and contracts signed with ExxonMobil will beimplemented as schedule with the aim of the two companies sharing andcreating the most favourable conditions to develop together.
Heurged ExxonMobil to use advanced technologies to exploit the gas fieldin the most effective way, minimising spending and lowering costs.
Hesaid the two sides should work together to find answers to issues suchas gas consumption, the price of gas and commercial conditions.
PetroVietnam will ask the Vietnamese Government to find ways to buildgas-fired power plants in the central region, as well as draw uppolicies to help gas distributors develop their operations in theregion, he said. It will also propose investment incentives todevelop the project, he added.
In 2013, an agreement on the CaVoi Xanh platform development project was signed between the twocompanies in Washington, with the aim of creating a schedule, a strategyand an overall plan for the project.
The project is scheduled to begin supplying gas and power by 2021.-VNA
TheMoU was signed by PetroVietnam Chairman Nguyen Xuan Son and Presidentand CEO of Murphy Oil Corporation Roger W. Jenkins, on the occasion ofParty General Secretary Nguyen Phu Trong’s visit to the United States.
Murphysees the Vietnamese market as an area with long-term developmentpotential and values PetroVietnam as a dynamic and effective partner.
Thecorporation is especially interested in participating in thedevelopment of the Block B gas project, the Malaysia- Tho Chu basin inVietnam 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 forthe Asia Pacific region, Raymond E. Jones, and the group’s other seniorofficials.
During the meeting, Jones greatlyappreciated PetroVietnam’s efforts along with ExxonMobil, to advance theCa Voi Xanh (Blue Whale) project, located off the coast of Vietnam. Hespoke of the project’s progress so far and about preparation to draw upplans for the gas field in future.
Son affirmed that thecooperation agreement and contracts signed with ExxonMobil will beimplemented as schedule with the aim of the two companies sharing andcreating the most favourable conditions to develop together.
Heurged ExxonMobil to use advanced technologies to exploit the gas fieldin the most effective way, minimising spending and lowering costs.
Hesaid the two sides should work together to find answers to issues suchas gas consumption, the price of gas and commercial conditions.
PetroVietnam will ask the Vietnamese Government to find ways to buildgas-fired power plants in the central region, as well as draw uppolicies to help gas distributors develop their operations in theregion, he said. It will also propose investment incentives todevelop the project, he added.
In 2013, an agreement on the CaVoi Xanh platform development project was signed between the twocompanies in Washington, with the aim of creating a schedule, a strategyand an overall plan for the project.
The project is scheduled to begin supplying gas and power by 2021.-VNA
