On August 6th in Hanoi, PetroVietnam Exploration and Production Corporation (PVEP) signed a short-term credit contract of VND 2, 000 billion with the Joint Stock Commercial Bank for Foreign Trade of Vietnam – Operations Center Branch.

Attending the Signing Ceremony were Mr. Nguyen Van Mau, Vice President of Vietnam Oil and Gas Group (PVN); Mr. Le Vinh Quang, Deputy General Director of Vietcombank, Mr. Ho Van Tuan, Director of Vietcombank – Operations Center Branch and other Deputy Directors, Heads of the Branch.

On the side of PVEP, there were Dr. Tran Quoc Viet, President & CEO, Mr. Nguyen Thien Bao, Vice President & CFO, Chief Accountant and Head of functional Divisions of PVEP.

PVEP sign a short-term credit contract with Vietcombank – Operations Center Branch

At the event, Director of Vietcombank – Operations Center Branch Ho Van Tuan emphasized that PVEP has been and will always be a big and traditional client of the Branch in particular and Vietcombank in general over the past years. Vietcombank Operations Center Branch is proud to accompany PVEP in investing in key projects inside and outside the country. Projects accompanied by Vietcombank have been successful, effective and bringing benefits to PVEP, contributing great revenue to the State budget.

The signing ceremony will mark a new step in the cooperation between PVEP and Vietcombank when it is the first time that PVEP uses short-term loans from credit institutions, contributing to proactive capital sources for development and business plans of the Corporation.

On behalf of PVEP, CEO Tran Quoc Viet thanked leaders of PVN, Vietcombank as well as Operations Center Branch for having facilitated, supported, and accompanied PVEP during the past years in capital used for the Corporation's projects implementation, especially in difficult times, helping PVEP complete its business and production tasks in recent years.

Also, Dr. Tran Quoc Viet affirmed the close and good cooperation between PVN/PVEP and Vietcombank as well as wished the Bank will continue to accompany and support PVEP in financial activities.