VN, Uzbekistan foster petroleum cooperation

VGP - The PetroVietnam Exploration Production Company (PVEP) under the Việt Nam National Oil and Gas Group (PetroVietnam) and Uzbekneftegaz, state-owned holding company of Uzbekistan's oil and gas industry, have signed a contract on exploring oil and gas in Uschiurt, Uzbekistan.

February 09, 2010 2:48 PM GMT+7

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Under the 3-year contract, PetroVietnam will invest some US $30 million in the project.

PVEP is planning to establish a representative office in Tashkent to implement it.

Mr. Nguyễn Vũ Trường Sơn, PVEP General Director, said the contract has laid foundation for investment activities of PetroVietnam in Uzbekistan. It also marks an important progress in the close traditional relations between Việt Nam and Uzbekistan, he added.

So far, PetroVietnam has signed 22 contracts on exploring and exploiting oil and gas in 15 nations.

By Ngọc Vân