Petronas signs HoA with PetroVietnam

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has signed a binding heads of agreement (HoA) with Vietnam Oil and Gas Group (PetroVietnam) for the sales and purchase of additional gas from Block PM3 CAA, Malaysia, to Ca Mau Province, Vietnam.

The HoA, signed on March 15 in Ho Chi Minh, would further support the country’s plan to spur its economic growth in the south west region, said the national oil and gas company in a statement.

The agreement was a testimony of Petronas’ commitment to support the gas industry growth as well as boosting the socio-economic growth for both Malaysia and Vietnam, vice-president of Malaysia Petroleum Management (MPM) Muhammad Zamri Jusoh was quoted as saying in the statement.

“It (this agreement) will also further enhances our long-term partnership with Vietnam and we look forward to continued collaboration,” he added. — Bernama