Tuesday, February 26, 2008

Vietnam Engages in Oil Venture

Hanoi, Feb 22 (Prensa Latina) Vietnam will explore for oil in state-run facilities in Tunisia along with the Russian company Vietsovpetro, which will invest $13 billion to set the joint venture in motion.

Petrovietnam is heading an offensive to increase its 2007 income of $12 billion to $15.6 billion and contribute over $6 billion to the national budget.

To meet its goal, the Quang Nai Province shipping company Dung Quat began to build a 105,000 ton supertanker, first and largest of three tankers for Petrovietnam.

This week the local Petroleum Technical Services Company installed a 1,400-ton oil platform in Malaysia after winning an international bid as part of a $100 million contract that includes design, production, purchase, experiments and launching.


Via [plenglish]