The Egyptian General Petroleum Corporation (EGPC) and Vietnam Oil and Gas Group (Petrovietnam, PVN) signed a Memorandum of Understanding (MoU) to strengthen the mutual cooperation in the fields of exploration and production through the participation of Petrovietnam in the International bid rounds offered by the Egyptian Petroleum Sector, as well as the participation of the Egyptian companies in the bid rounds offered for petroleum exploration in Vietnam, in addition to the participation in the different petroleum projects there.
The signing ceremony was witnessed by Eng. Sameh Fahmy, Minister of Petroleum, Mrs. Fayza Abul Naga, Minister of International Cooperation, and Mr. Vu Huy Hoang, Vietnamese Trade and Industry Minister. The ceremony was held in light of the 4th Joint Egyptian – Vietnamese Committee meetings.
According to the terms of MoU, the two parties will initiate more cooperation in the fields of information exchange, legislations, and petroleum agreements’ regulations. Besides exchanging expertise, considering specialized training in the petroleum domain in both countries and boosting up the joint cooperation in the different stages of oil and gas industry in Egypt and Vietnam.