Petronas Can Expand Activity In Vietnam, Says PM

Prime Minister Datuk Seri Abdullah Ahmad Badawi said that Petronas could still expand its activity in Vietnam as its presence there was welcomed by the Vietnamese authorities.

"They are comfortable with Petronas' operations in their country," he told a press conference after a meeting with Vietnam's Prime Minister Phan Van Khai at his office, here Wednesday.

Abdullah said that he was confident that Petronas could expand its interest in Vietnam.

On his meeting with Khai, he said that they discussed on the need to enhance cooperation in the oil and gas sector between the two countries.

Khai, who is leading a 16-member delegation, arrived here today for a three-day working visit to further strengthen bilateral ties.

The national oil company, which made its first foreign foray in Vietnam 11 years ago, has overseas global acquisitions worth close to US$2 billion (RM7.6 billion).

Petronas started off with its upstream arm, Petronas Carigali, which teamed-up with its Vietnamese counterpart PetroVietnam Exploration and Production Company (PVEP) to jointly explore and exploit hydrocarbons offshore.