Petronas inks HoA with PetroVietnam for additional gas sale, buy

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KUALA LUMPUR (March 21): 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 today, Petronas said the HoA was signed on March 15 at the Gem Centre in Ho Chi Minh, Vietnam, between Malaysia Petroleum Management vice president Muhammad Zamri Jusoh, who signed on behalf of Petronas, and PetroVietnam vice president Nguyen Quoc Thap.

"The signing of today's 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," said Zamri during 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 during the signing were PetroVietnam chairman Tran Sy Thanh, representatives from the Government Office, Committee for Management of State Capital at Enterprises (CMSC), Ministry of Industry and Trade and Petronas senior vice president and group general counsel Maliki Kamal Mohd Yasin.