PetroVietnam, Murphy Oil Sign MoU

PetroVietnam and Murphy Oil on Wednesday signed a memorandum to promote the opportunities to cooperate in oil and gas projects.

The memorandum was signed by PetroVietnam Chairman Nguyen Xuan Son and Chairman and CEO of Murphy Oil Roger W. Jenkins in Washington.

Murphy Oil sees Vietnam as a market with considerable potential and looks to have a long-term development strategy for the country and assesses PetroVietnam as a dynamic partner, the Vietnamese firm said in a statement released Thursday. 

The US firm is especially interested in participating in the development of the Block B gas project, the Malay-Tho Chu basin in Viet Nam and a number of blocks in Cuu Long basin, PetroVietnam said.