Petronas Petrovietnam to expand energy cooperation
Malaysia s national oil and gas company Petronas a href https vir com vn search enginer html p search amp q Petronas 20 a will continue working with Petrovietnam on oil and gas exploration and production LNG supply and renewable energy development in the coming years
Petronas and Petrovietnam have announced plans to expand their energy cooperation in Vietnam, focusing on oil and gas exploration, production, liquefied natural gas (LNG) supply, renewable energy, and emerging energy sectors. The collaboration aims to meet the growing energy demand and diversify energy supplies in Vietnam, which is targeting double-digit economic growth.
The two companies have extended their contract for the PM3 Commercial Arrangement Area, located along the maritime boundary between Vietnam and Malaysia, for another 20 years until 2047. Additionally, they have implemented a joint technical study agreement to assess hydrocarbon exploration prospects in several offshore blocks. Petronas is also exploring new resource opportunities, including projects in Blocks 102 and 106 offshore in the Song Hong Basin, and delivering its first LNG cargo to PetroVietnam Gas Joint Stock Corporation in April 2025.
The partnership extends to renewable energy and carbon capture and storage (CCS), with the goal of helping Vietnam achieve its net-zero emissions target by 2050.
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