Vietnam National Oil and Gas Group (PetroVietnam) is striving to buy oil fields in foreign countries to ensure domestic supplies, local newspaper Saigon Liberation reported Tuesday.
The group is negotiating for the purchase of some oil fields with total reserves of tens of millions of tons owned by a Kazakhstani company. It has already reached some in-principle deals with foreign partners to buy oil fields or jointly exploit oil and gas in Venezuela, Tunisia, Angola and Iraq.
Vietnamese Deputy Prime Minister Hoang Trung Hai said the government will, in the coming time, issue a special mechanism which facilitates PetroVietnam's purchase of oil fields in foreign countries. However, he also urged the group to focus on exploring new oil fields in Vietnam.
Vietnam is estimated to have total oil and gas reserves of more than four billion cubic meters of crude oil, but only over one billion cubic meters have been explored, the newspaper said.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article