News about Petronas

On October 16, Prime Minister Lê Minh Hưng met Tengku Muhammad Taufik, Chairman and CEO of Petronas, during a Petronas delegation visit to Vietnam. Petronas proposed working with Petrovietnam and domestic firms to develop LNG infrastructure, supply LNG under long-term contracts, and cooperate on offshore wind, hydrogen, carbon capture and storage, technology transfer, and the Vietnam-Malaysia-Singapore power grid link. The government supports Petronas expanding investment and signing new petroleum contracts for open blocks on Vietnam's continental shelf, and welcomed the Strategic Alliance Agreement (SAA) between Petronas and Petrovietnam. The Prime Minister cited Block PM3-CAA, first signed on February 16, 1989, which has produced a cumulative 250 million barrels of oil and 43 billion m³ of gas, with total revenue of over 25 billion USD. He asked both sides to quickly put a joint coordination mechanism into operation.