Gov't Gives Nod to Tokin Gulf Oil Deal with China

The Prime Minister has approved an agreement on joint oil exploration offshore the Tonkin Gulf, which was signed last year by the Viet Nam Petroleum Corporation (PetroVietnam) and the China National Offshore Oil Corporation.

The deal, reached by the two companies on Nov. 16, 2006, made it clear that the joint operation will be conducted in the bilaterally-accepted water territory in the Tonkin Gulf.

The Prime Minister has entrusted PetroVietnam to work with relevant ministries and industries in deploying the above-mentioned deal to make sure that the process will go in line with law and economic benefits of Viet Nam.

Source: VNA

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