June 11, 2009 | 21:47 (GMT+7)
Aramco wants to be a strategic alliance with PVN
The Minister of Petroleum and Mineral Resources of Saudi Arabia, Ali Ibrahim Al-Naimi, expressed a wish to start a strategic alliance...
The Minister of Petroleum and Mineral Resources of Saudi Arabia, Ali Ibrahim Al-Naimi, expressed a wish to start a strategic alliance between the Saudi Arabia National Petroleum Company (Saudi Aramco) and the Vietnam National Oil and Gas Group (PVN) at a meeting with PVN leaders on June 10th.
At the meeting, General Director of PVN proposed to the visiting Minister to allow the Vietnamese group to supply services and human resources for exploitation projects in Saudi Arabia as well as signing long-term and stable contracts on purchase of crude oil and oil and gas products.
In addition, the Vietnamese side also wished Saudi Arabia to promote its investment in petro-chemistry, oil processing and energy projects in Vietnam.
In the short term, the two sides have agreed to bring about a joint venture between Aramco and PVN to carry oil exploration and production projects in Saudi Arabia.
Source: TBTK
Translated by Thu Nguyen