VN won contract to exploit oil in Myanmar
VGP - PetroVietnam Exploration Production Corporation (PVEP) and Vietsovpetro (VSP) signed a contract with Myanmar’s Eden Group to exploit oil and gas at the Lot M-2 offshore Myanmar.
October 06, 2008 10:07 AM GMT+7
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The contract inked on October 02 in Nay Pyi Taw, Myanmar capital, is the outcome of the joint efforts of PVEP and VSP in surveying the lot’s potentiality for one year.
Myanmar possesses an abundant gas reserve, with three fields offshore and 19 ones near the coast. According to experts from this country, Myanmar can produce 2.54 trillion cubic meters of gas and 3.2 billion barrels of crude oil.
Expanding petroleum operations abroad is one of the most priorities of PetroVietnam. Việt Nam and Myanmar signed a memorandum of understanding on strategic cooperation in petroleum field on the occasion of the Vietnamese PM’s visit to Myanmar in August 2007.
By Ngọc Vân
