We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Fri 1 Jun 2007 12:00 AM

Font Size

- Aa +

Oman and Vietnam become partners

Oman Oil has turned to East Asia for collaboration on oil and gas expansion projects.

Oman Oil Company (OOC) and PetroVietnam have signed a memorandum of understanding (MoU) for co-operation in oil and gas exploration.

The MoU includes collaboration in production and refining operations, exchange of expertise and joint investment, according to Maqbool bin Ali Sultan, Oman's minister of commerce and industry and chairman of OOC.

After the signing ceremony, Maqbool said the MoU with Petro-Vietnam came within OOC's strive to increase and expand its investments base in oil and gas.

Ahmed Macki, Oman's minister of economy, recently visited Vietnam after expressing an interest in finance, banking, oil and gas, thermo-electricity and resort building in the country.

The minister said the purpose of the visit was to boost co-operation and to emphasise Oman's willingness to enter into joint ventures with Vietnamese partners or set up wholly-owned investment projects in these areas.

The announcement follows shortly after Oman Oil struck a lucrative deal with China Gas to import gas into China from the Middle East. The newly established joint venture will mainly import liquefied natural gas and liquefied petroleum gas into China. Oman Oil holds a 7.66% stake in China Gas.

Arabian Business: why we're going behind a paywall

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.