Eni, PetroVietnam sign upstream agreement

Eni SPA and PetroVietnam have signed a memorandum of understanding covering exploration and production business opportunities in Vietnam and elsewhere.

Eni said the agreement will enable it to acquire new blocks in Vietnam, where it now operates three offshore blocks in which it acquired 50% interests last year (OGJ Online, June 25, 2012).

Eni will offer PetroVietnam the opportunity to acquire shares in international blocks and areas where it holds interests.