Global oil and gas giants are planning investment and business expansion in Vietnam.In addition to a number of exploitation and production contracts signed between the state-run PetroVietnam and its foreign counterparts, British BP and US-based ConocoPhillips have revealed plans to expand operations in Vietnam.
The Saigon Times Weekly, quoted John C. Mingé, Director General of BP Vietnam as saying lBP is willing to cooperate with the government in implementing several new projects and expand the operation scope of some ongoing projects over the next decade.
BP estimated that together with partners, it would pump around US$2 billion, including $1 billion from BP alone into the projects.
ConocoPhillips, who have investment of $1 billion in projects in Vietnam, plan to inject another $1 billion in local oil exploitation.
