After the signing ceremony, Maqbool told ONA that the MoU with Petro-Vietnam came within OOC"s strive to increase and expand its investments base in oil and gas.

The MoU includes joint cooperation in oil and gas fields and projects associated with production and refining operation, cooperation in exchanging of expertise and joint investment, he said.

Petro-Vietnam is a company owned by the Vietnam government, which operates in oil and gas exploration, oil refineries and associated petrochemicals, industries. Vietnam"s production of crude oil is estimated at 350,000 barrel per day.

It owns a gas reserve to the tune of 70 trillion cubic feet.

PIN/Times of Oman