Eni signs deal with PetroVietnam

Agreement will develop business opportunities in Vietnam and abroad.

Italian oil and gas company Eni SpA said that the agreement with allow PetroVietnam to acquire shares in international areas and blocks where it owns the rights to exploration and development.

It said the agreement was signed by Eni Chief Executive Paolo Scaroni and PetroVietnam President and Chief Executive Do Van Hau in Rome after a meeting between Italian Prime Minister, Mario Monti, and the General Secretary of the Communist Party of Vietnam, Nguyen Phu Trong.

Eni has been present in Vietnam since June 2012 through a 50% participation in three exploration blocks located in the Hong Son basin in the Gulf of Tonkin estimated to contain 10% of the hydrocarbon resources of Vietnam.