head office
building in
Luanda, Angola — 12 August 2013

A new joint venture is to be set up between Angolan oil company Sonangol and Petro-Vietnam to operate in the oil sector of both countries.

Confirming this development at the end of an official visit to Angola, Vietnam’s foreign relations minister Pham Binh Minh was quoted by Macauhub News Agency as saying that the possibility of a joint approach in oil exploration by Angola and Vietnam had been outlined in two-way agreements signed over the last five years, but only now had it been possible to move ahead with these plans.

According to the Vietnamese minister it was now up to Petro-Vietnam and Sonangol to establish ways of working together both in Angola and Vietnam.

Angolan oil minister Botelho de Vasconcelos said that, following the visit by the Vietnamese mission and the agreements signed, Sonangol “may carry out its exploration and production activities in Vietnam in the future.”

Source: Macauhub News Agency. For more information, click here.