ROME, Jan. 22 (UPI) -- Italian energy company Eni announced it signed a memorandum of understanding to explore potential business opportunities with state-owned PetroVietnam.
Eni Chief Executive Officer Paolo Scaroni met with PetroVietnam President Do Van Hau in Rome for the signing of an MOU on the development of business opportunities in Vietnam and elsewhere.
The memorandum gives PetroVietnam the chance to expand its international footprint while allowing Eni to enter into development in Vietnam, the company explained.
The CIA World Fact Book estimates that Vietnam in 2011 produced 318,000 barrels of oil and 300 billion cubic feet of gas per day.
Scaroni added that the Vietnamese company would gain from training opportunities from his company.
Eni entered the Vietnamese energy sector in June when it took on the operatorship at three exploration blocks in the Hong Son basin in the Gulf of Tonkin.
|Additional Energy Resources Stories|
BRUSSELS, May 22 (UPI) --The European Union will carefully weigh the risks of shale gas development this year but also needs to stem high energy prices, the EU's energy chief says.
SANTIAGO, Chile, May 21 (UPI) --More than $4 billion of cash reserved for Chilean military procurement remains unspent because of mysterious workings of funding arrangements.