PetroVietnam, Murphy agree to collaboration

Offshore staff

WASHINGTON, D.C. – Nguyen Xuan Son, chairman of PetroVietnam has signed a memorandum of understanding with Roger W. Jenkins, president and CEO of Murphy Oil.

The two parties plan to collaborate on oil and gas projects, with Murphy Oil interested in participating in development of the block B gas project in the Malay - Tho Chu basin and various blocks in the Cuu Long basin offshore Vietnam.

In return, PetroVietnam could join Murphy in projects in the Gulf of Mexico.

PetroVietnam officials also met with Raymond E. Jones, ExxonMobil’s vice president in the Asia – Pacific. In July 2013, the two companies signed a framework agreement for the Blue Whale field development offshore Vietnam was signed, with a view to produce first gas around 2021.

Nguyen Xuan Son suggested ExxonMobil find optimal technical and technological solutions to develop the field in the most effective way, with reduced costs and lower prices. He added that he would propose to Vietnam’s government planning construction of gas power plants in the country’s central region and devising mechanisms for development of gas consumption in the area.

07/13/2015

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