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Oil-gas projects with foreigners inside national boundaries
Vietnam affirmed on July 24 that all of its oil and gas cooperation projects with foreign partners are conducted in the country’s exclusive economic zone and continental shelf.
The Spokesman of the Ministry of Foreign Affairs, Le Dung, made the statement in response to Reuters’ question concerning oil cooperation agreements between Petro Vietnam and foreign partners.
“It needs to be clearly asserted that all cooperation projects between Vietnam and her foreign partners in the field of oil and gas are conducted in the exclusive economic zone and on the continental shelf of Vietnam, which are entirely within Vietnam’s sovereignty, sovereign rights and jurisdiction, in conformity with the 1982 UN Convention on the Law of the Sea and the multilateral and bilateral agreements to which Vietnam is a signatory,” the spokesman said.
He also said Vietnam welcomes and creates favourable conditions for foreign partners, including those from China, to cooperate in the field of oil and gas on the continental shelf of Vietnam, on the basis of complying with Vietnamese laws.
“Vietnam ensures the rights and benefits of foreign investors doing business in the country,” the spokesman added.
VNA
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