PetroVietnam signs cooperation deals with Mozambican partners

VPG - The State-run Việt Nam Oil and Gas Group (PetroVietnam) early this week signed cooperation deals with Mozambique’s national oil and gas group ENH and the African country’s investment watchdog SPI.

December 03, 2009 10:17 AM GMT+7

The signing of the Memorandum of Understanding for the cooperation between PetroVietnam, ENH and SPI

The deals, inked during PetroVietnam’s business trip to

Mozambique

from November 30 to December 1, will create favorable conditions for the Vietnamese group to explore and exploit oil and gas in the African country.

The documents also pay the way for the two sides to intensify investment in their respective markets.

The cooperation between PetroVietnam and Mozambican businesses is a step to concretize high-ranking agreements gained by senior leaders of the two countries.

In January 2007, the Mozambican President paid an official visit to Việt Nam. Top leaders of the Communist Party of Việt Nam, including Party chief Nông Đức Mạnh, also visited the African country to consolidate and strengthen bilateral relations.

By Hồng Vân