India Keen to Invest in Vietnam Oil, Gas Sector

India is keen on expanding oil and gas exploration in Vietnam’s East Sea.

Commerce and Industry Minister Anand Sharma, who is on a visit to the country, said that Indian investment will be beneficial for both the countries.

Oil and Natural Gas Corp's overseas arm ONGC Videsh accounts for much of India's investment in Vietnam. It has 45 per cent stake in one gas field --- Block 06.1 in the Nam Con Son basin off Vietnam's south coast --- in a joint venture with TNK-BP and PetroVietnam.

South China Sea has rich in oil and gas potential and is one of the world's most important trade routes.