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Monday, September 12, 2011

Petrolimex Wins Laos Investment Contract

- Petrolimex Wins Laos Investment Contract

Monday, September 12, 2011
Vietnam National Petroleum Corp.

Vietnam National Petroleum Corp. (Petrolimex) on Saturday received an investment license in Laos.

The investment license granting ceremony was held during the Vietnam-Laos Cooperation and Investment Conference at the International Convention Center with the presence of H.E Prime Minister Nguyen Tan Dung of the Socialist Republic of Vietnam Government and H.E Prime Minister Thongsing Thammavong of the People's Democratic Republic of Laos Government.

Petrolimex investment project in Laos was granted license No. 452/BKHDT-DTRNN of June 21st, 2011, by which Petrolimex would directly conduct business activities in Laos with the cooperation of Chevron.

Chevron is the world third-largest oil group in oil reserve and the fourth largest in oil and natural gas exploitation.

Petrolimex and Chevron are partners in energy sector, having good cooperation and mutual trust.

This investment project in Laos is in line with Petrolimex development strategy. Besides, the project contributes to the materialization of agreements between Vietnam-Laos governments in the direction of all-sided cooperation, in conformity with the tradition of friendship and special solidarity between Vietnam and Laos.

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