PetroVietnam Seeks Active Presence in South America

PetroVietnam wants to set up a long-term and reliable cooperation with Energia Argentina S.A. (ENARSA)--not only in oil and gas exploration and exploitation in Argentina, but also in relevant services in a third country, said a PetroVietnam official.

Dinh La Thang, President of Board of Directors of PetroVietnam - the National Oil and Gas Group - made the comment during a recent meeting with ENARSA officials in Argentina. He visited the South American country seeking cooperation and investment opportunities in Argentina and the South American market.

ENARSA Director Jorge Haiek expressed his hope for a joint venture with PetroVietnam in oil and gas exploration and exploitation offshore Argentina.

The two companies exchanged a draft memorandum of understanding on bilateral cooperation, saying they would endeavor to sign an agreement soon to create a foundation for a long-term partnership.

While in Argentina, PetroVietnam officials met with Argentinean State Secretary in charge of Energy under the Ministry of Planning, Investment and Services Daniel Cameron, who said that the Argentinean Government encourages favorable conditions for PetroVietnam in Argentina as well as its partnership with ENARSA.