Jan. 24 -The President and CEO of the Vietnamese state oil company PetroVietnam, Do Van Hau, and En’si CEO Paolo Scaroni signed a Memorandum of Understanding for the development of business opportunities in Vietnam. The agreement was signed after a meeting between the Italian Prime Minister, Mario Monti, and the Secretary General of the Communist Party of Vietnam, Nguyen Phu Trong. The Declaration of Intent provides PetroVietnam with an opportunity to expand its international activities and for Eni to enter into new sectors of the country. In particular, Eni will offer PetroVietnam the opportunity to acquire shares in international areas and blocks to which it owns exploration and development rights. In addition, as part of the activities in partnership in the upstream sector, Eni will supply PetroVietnam with its substantial wealth of knowledge, proprietary technologies and skills training. Paolo Scaroni also discussed the development of Eni operations in Vietnam and confirmed the favorable prospects due to the progressive strengthening of Eni’s presence in the country. After the recent exploration successes in Indonesia and Pakistan and acquisitions in Australia, the memorandum signed today represents a further step in Eni’s strategy to strengthen its presence in Asia, a region with very high potential in terms of opportunities and upstream markets.
