PetroVietnam looks to beef up with Japanese deals

TN News

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National Oil and Gas Group PetroVietnam has signed several deals with Japanese partners, one of which will help the group list shares of its affiliates abroad.

Daiwa Capital Markets was to sign with the group during its promotional visit to Tokyo June 22 to 25, said PetroVietnam in a statement.

The group said the Japanese partner would be calling for energy funds from Japan to support oil and gas projects developed by PetroVietnam. Daiwa also agreed to help the firm list abroad.

PetroVietnam said Tokyo Electric Power Company, or Tepco, had signed a memorandum of understanding on helping to build the coal-fired Long Phu 1 and Song Hau 1 power plants in Vietnam.

PetroVietnam also signed deals with Japan Bank for International Cooperation, Japan External Trade Organization, Sumitomo Mitsui Banking Corporation and Nippon Export and Investment Insurance.

The Vietnamese firm said partners would help provide the group capital, insurance and financial services.

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