PetroVietnam to explore oil and gas in Peru

The Vietnam National Oil and Gas Group (PetroVietnam) on April 16 signed a deal with its Peruvian partner, PeruPetro, to explore and exploit oil and gas in the South America country.

PetroVietnam was among 18 enterprises from the Asian, European, American and Australian continents which have signed investment contracts worth 650 million USD with PeruPetro.

Despite its huge potential in oil and gas, Peru still has to import petroleum. The country is urging foreign investments in this sector with a hope of becoming a petroleum exporter.

During its visit to Latin America last month, PetroVietnam signed memoranda of understanding to establish partnership relations with national oil and gas groups of Nicaragua, Bolivia and Argentina.

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