Petronas Keen To Extend Production-Sharing Contract In Vietnam For Another 10 Years

MANILA, April 29 (Bernama) -- The Vietnam government is considering Petronas’ interest to continue its production-sharing contract in the country for another 10 years, Malaysian Prime Minister Najib Razak announced Friday. Petronas, the Malaysian oil and gas company has been in Vietnam for 25 years. Petronas’ interest in continuing the production-sharing contract would benefit both Malaysia and Vietnam, he told a press conference with Malaysian reporters after an hour bilateral meeting with Vietnam’s Prime Minister Nguyen Xuan Phuc. Both leaders are here for the 30th ASEAN Summit. Malaysia is one of the largest investors in Vietnam. "This is very important to be decided, in view of some multinational companies have already ended their operations in Vietnam. But Petronas is still interested to continue investing in Vietnam,” Najib said. On the Trans-Pacific Partnership (TPP) and Regional Comprehensive Economic Partnership (RCEP), he said: “We agree that RCEP negotiations should be continued until it is finalised. Apart from that, 11 other TPP countries are discussing on the alternative to the TPP.” The prime minister said the commitment to expand bilateral trade to US$15 billion in 2020 from US$11 billion would also be discussed. --BERNAMA