Petrovietnam wishes to continue to develop and seek investment opportunities in Algeria

On October 21 in Hanoi, Chairman of the Board of PetroVietnam (Petrovietnam) Hoang Quoc Vuong had a meeting with Mr. Boubazine Abdelhamid, Ambassador Extraordinary and Plenipotentiary of Algeria to Vietnam.

Were present at the meeting of the leaders of the specialized departments/offices of the Group, the leaders of PetroVietnam Exploration Production Corporation (PVEP).

On behalf of the leaders of the group, the chairman of the board of directors, Hoang Quoc Vuong, warmly welcomed and wished to express his thanks to the Ambassador of Algeria for having taken his time to come to visit and work at the headquarters of Petrovietnam . On this occasion, Chairman of the Board of Directors of Petrovietnam Hoang Quoc Vuong briefed the Ambassador of Algeria on the situation of production and commercial activities of Petrovietnam, including information on the Bir Seba project in lots 433a & 416b (Algeria).

Chairman of the Board of PetroVietnam had a meeting with Ambassador Extraordinary and Plenipotentiary of Algeria to Vietnam.

The Bir Seba oil field exploitation and development project - lots 433a & 416b benefits from a privileged location in the middle of the Sahara desert, and constitutes the first successful project of PVEP as well as Petrovietnam abroad since the very first stage of participation in international tenders at the stage of exploration, development and exploitation.

Currently, the project is operated by the operational joint venture Groupement Bir Seba (GBRS) established by the joint venture parties under the terms of the product sharing agreement, including PVEP, the Algerian oil and gas company (Sonatrach) and the Thai Petroleum Company ( PTTEP Thailand).

Chairman of the board of Petrovietnam Hoang Quoc Vuong asserted that the Bir Seba project has worked effectively over the years, bringing interests to the parties involved, including Petrovietnam. In particular, it is also a symbol of the cooperative relationship between Vietnam and Algeria in the field of oil and gas.

Mr. Hoang Quoc Vuong talks with H.E.Mr. Boubazine Abdelhamid, Ambassador of Algeria in Vietnam

Mr. Boubazine Abdelhamid, Ambassador Extraordinary and Plenipotentiary of Algeria to Vietnam, welcomed Petrovietnam's performance as well as the success of the investment and cooperation project between Petrovietnam and Algerian companies. The ambassador affirmed that the successes achieved have contributed to deepening the friendship and cooperation between Algeria and Vietnam over the past 60 years.

In the time to come, Chairman of the Board of Petrovietnam Hoang Quoc Vuong hopes that the Ambassador of Algeria, with his position, his responsibility and his affection, will support and create the conditions for Petrovietnam/PVEP to continue to exploit the Bir Seba deposit in an efficient, stable and safe manner, bringing benefits to the parties concerned.

Mr. Hoang Quoc Vuong presents a souvenir to the Ambassador

In addition, the leaders of Petrovietnam wished to receive the support of the Government, the Algerian Ministries as well as the Ambassador personally in order to continue to develop and seek investment opportunities in other research, exploration and of oil and gas production in Algeria as well as participating in the provision of high quality oil and gas technical services to partners.

Chairman of the Board of Directors Hoang Quoc Vuong believes that Petrovietnam and companies operating in Algeria's oil, gas and energy fields will cooperate effectively, promote and further foster friendly cooperative relations between the Vietnam and Algeria over the past 60 years.