Vietnam, China sign oil and gas co-operation deals

Monday, Oct 27, 2008

The Vietnam National Oil and Gas Group (Petrovietnam) on October 23 signed an agreement in principle to establish a joint venture producing clean fuels in Nghi Son district, Thanh Hoa province in Vietnam with the XinAo Group.

The agreement was signed under the witness of Prime Minister Nguyen Tan Dung and senior Chinese government leaders within the framework of the Vietnam-China Business Forum held during the Vietnamese PMs visit to China.

Also, Petrovietnam signed an agreement in principle with GoldStone International Group to set up a joint venture to build and operate a complex of a five star hotel, offices and luxurious apartment buildings and the Oil and Gas Tower in Hanoi.

Earlier, on October 22, under the witness of Vietnamese and Chinese Prime Ministers, PetroVietnam signed a strategic co-operation agreement with Chinese National Offshore Oil Corporation (CNOOC). Accordingly, PetroVietnam and CNOOC pledged to expand and promote comprehensive co-operation between the two companies in both countries as well as in third countries.