Petrovietnam Signed Cooperation Agreements with the Corporation, Oil Country Egypt

Source: www.oilegypt.com 11/10/2008, Location: Africa

On 9/11/2008, the meeting Mixed Committee on Viet Nam - Egypt Sofitel hotel in Cairo, before the witness of the Minister of Industry and Commerce Vu Huy Hoang, Minister of Oil and Gas Ministry Ministry of International Cooperation of Egypt, Mr. Hoang Xuan Hung - member Board Group on behalf of Oil and Gas Group Viet Nam (Petrovietnam) and Mr. Taha Abdel Aleem - Chairman cum Director General of Oil and Gas Company Country Egypt (Egyptian General Petroleum Corporation - EGPC) signed a memorandum on cooperation between the two sides.

Under the agreement in a memorandum this, Petrovietnam and EGPC will jointly promote cooperation, firstly in phases search exploring and exploiting oil and gas (E & P) in Egypt, Viet Nam and other third countries. Form of cooperation is also very diverse as the two sides can participate in rounds of bidding or buying oil and gas assets in Viet Nam and Egypt, along with search investment opportunities in a 3rd country or can exchange the existing projects of each party. In addition to field E & P is priority number one, the two sides will also consider possibilities to expand cooperation to other areas that each side has strengths in order to promote, to maximize the advantages of each side, to serve benefits them.

The signing of a memorandum as well as projects Lo South Siwa is the first step towards the Petrovietnam / PVEP to expand its activities in Egypt and neighboring countries.


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