Petronas inks HoA with PetroVietnam for additional gas sale and purchase

This article first appeared in The Edge Financial Daily, on March 22, 2019.
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KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has inked a binding heads of agreement (HoA) with Vietnam Oil and Gas Group (PetroVietnam) for the sale and purchase of additional gas from Block PM3 CAA, Malaysia to Ca Mau Province, Vietnam.

In a statement yesterday, Petronas said the HoA was signed on March 15 at the Gem Centre in Ho Chi Minh City between Petronas vice president of Malaysia petroleum management Muhammad Zamri Jusoh and PetroVietnam vice president Nguyen Quoc Thap.

“The signing of the agreement is a testimony of Petronas’ commitment to support the gas industry’s growth as well as boosting the socioeconomic growth for both Malaysia and Vietnam,” Zamri was quoted as saying at the event.

He added that the agreement further enhances the oil major’s long-term partnership with Vietnam, with the group looking forward to continued collaboration.

Also present at the signing were PetroVietnam chairman Tran Sy Thanh, Petronas senior vice president and group general counsel Maliki Kamal Mohd Yasin.