Oil giant Royal Dutch Shell Plc plans to partner with state oil and gas group PetroVietnam in exploration projects, the government said in a Thursday report.
At a meeting with President Nguyen Minh Triet, Chief Financial Officer Simon Henry said that his company wants to contribute more to Vietnam's economic reform efforts, according to information posted on the government's official website.
The firm will focus on exploration projects as well as importing and distributing oil products in Vietnam.
Henry said global economic integration has helped Vietnam become an attractive destination for foreign investors. But this also means there will be higher demand for energy, especially electricity.
Speaking at the meeting, President Nguyen Minh Triet said he hoped Shell would continue to contribute to Vietnam's development. He said the company can expand its business into energy and infrastructure sectors.