Vietnam signs $250 mln crude oil deal with Brunei Shell

TN News

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Vietnam and Brunei inked a US$250 million crude oil deal on November 28 as part of President Truong Tan Sang's visit to that country, the Vietnam News Agency reported.

Speaking at the signing ceremony between Vietnam's state-owned National Oil and Gas Group (PetroVietnam) and Brunei Shell that day, Sang said Vietnam encourages and facilitates PetroVietnam's cooperation with foreign partners like Brunei Shell.

Sang led high-ranking Vietnamese delegation on a two-day visit to Brunei at the invitation of Sultan Hassanal Bolkiah, the news report said.

That day he also attended a business forum attended by parties from both countries, where he asserted that Vietnam always helps foreign investors, including those from Brunei, to operate in Vietnam.

He also witnessed representatives from the Vietnam Chamber of Commerce and Industry sign a memorandum of understanding on cooperation with the National Chamber of Commerce and Industry Brunei Darussalam.

Earlier, on Tuesday, Sang met with Sultan Bolkiah where they agreed to develop ties between the two nations in various fields such as defense, oil and gas, agriculture and aquaculture, and tourism and transport.

With 129 projects with a total investment of $4.9 billion, Brunei ranks 12th out of 92 countries and territories to have invested in Vietnam, Vietnam News Agency reported.

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