The MoU was signed by PetroVietnam Chairman Nguyen Xuan Son and President and CEO of Murphy Oil Corporation Roger W. Jenkins, during Party General Secretary Nguyen Phu Trong’s visit to the United States.
(Photo: VNA)

(VOVworld) - The Vietnam National Oil and Gas Group (Petro Vietnam) and Murphy Oil Corporation have signed a memorandum of understanding (MoU) in Washington D.C to boost cooperation in oil and gas projects. The MoU was signed by Petro Vietnam Chairman Nguyen Xuan Son and President and CEO of Murphy Oil Corporation Roger W. Jenkins, during Party General Secretary Nguyen Phu Trong’s visit to the United States. Murphy sees the Vietnamese market as an area with long-term development potential and values Petro Vietnam as a dynamic and effective partner.

On this occasion, Son and his entourage also met the Vice Chairman of ExxonMobil for the Asia Pacific region, Raymond E. Jones, and the group’s other senior officials. During the meeting, Jones greatly appreciated Petro Vietnam’s efforts along with ExxonMobil, to advance the Ca Voi Xanh or Blue Whale project, located off the coast of Vietnam. He spoke of the project’s progress so far and about preparation to draw up plans for the gas field in future. Son affirmed that the cooperation agreement and contracts signed with ExxonMobil will be implemented as scheduled so that the two companies will share and create the most favourable conditions to develop together. He urged ExxonMobil to use advanced technologies to exploit the gas field in the most effective way, minimising spending and lowering costs. He said the two sides should work together to find answers to issues such as gas consumption, the price of gas and commercial conditions. Son added Petro Vietnam will ask the Vietnamese government to find ways to build gas-fired power plants in the central region, draw up policies to help gas distributors develop their operations in the region, and propose investment incentives to develop the project.