KUALA LUMPUR, December 13 – PETRONAS and Vietnam Oil and Gas Group (PETROVIETNAM) have formalized their intent for collaboration through the signing of a Memorandum of Cooperation (MoC). The agreement, inked by PETRONAS President and Group CEO, Tan Sri Tengku Muhammad Taufik, and PETROVIETNAM President and CEO, Dr Le Manh Hung, explores potential partnership opportunities across various sectors in Vietnam. This includes ventures in upstream, renewable energy, gas, and downstream domains, indicating a joint commitment to advancing energy solutions that align with responsible and sustainable practices.
Tan Sri Tengku Muhammad Taufik highlighted the collaboration’s significance in promoting responsible energy provision for economic growth while moving towards a lower-carbon future. The collaboration aims to leverage the technological capabilities and expertise of both national oil companies (NOCs) to develop comprehensive energy solutions encompassing hydrocarbons and cleaner energy. The MoC specifically addresses potential collaborations in decarbonization, sustainable energy, Liquefied Natural Gas (LNG), and petrochemicals.
PETRONAS, a pioneer investor in Vietnam since 1991, has played a crucial role in advancing the country’s oil, gas, and petrochemical industries. The strategic partnerships formed over the years underscore PETRONAS’ commitment to contributing to Vietnam’s energy landscape. The MoC solidifies the ongoing collaboration between PETRONAS and PETROVIETNAM, aligning their efforts with the evolving landscape of global energy transitions.
