Furthering cooperation between PVEP and PTTEP

25/08/2017

Building on the good relationship between PetroVietnam Exploration Production Corporation (PVEP) and PTT Exploration and Production Public Company Limited (PTTEP) of Thailand in investment in petroleum projects in Viet Nam and Algeria, on  August24th  2017, a PVEP delegation headed by  Mr.Nguyen Van Que - Secretary of the Party Committee/Chairman of the Board of Directors and comrades Mr. Nguyen Thien Bao – Member of the Board of Directors; Mr. Pham Nhu Khanh – Vice President in-charge of investment; Mr. Vu Minh Duc – Co-CEO of Groupement Bir Seba met with PTTEP during a working visit in Bangkok on future cooperation orientations for major petroleum projects where both companies will be partners. Mr. Somporn – CEO and PTTEP's high-level management were present.

PVEP's delegation focused discussion on technical aspects, economic, legal contract issues, challenges and difficulties in the implementation phase, as well as proposed future solutions to improve and increase the effectiveness of PVEP's and PTTEP's investments in the context of low oil prices, particularly with regards to Blocks 433a & 416b in Algeria. PVEP also expressed invitation to PTTEP to consider investing in a number of PTTEP's current projects on the basis of mutual benefit, further consolidating future cooperations from the top down to the working level to timely address project issues. 
PTTEP's CEO expressed appreciation for PVEP's support, positive contributions to projects in Algeria and for PTTEP's investments in Viet Nam. He also commit to maintain frequent contact to realize the solutions that both sides have agreed to and improve cooperation. 


Chairman of the Board of Directors of PVEP & CEO of PTTEP chairing the meeting 


PVEP's delegation in a group photo with PTTEP

 

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