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PetroVietnam to buy oil fields abroad

The Viet Nam Oil and Gas Group (PetroVietnam) said it will buy oil fields abroad to counter the threat of oil and gas shortage.

PetroVietnam’s General Director Tran Ngoc Canh said the group is in the process of buying a Kazakhstan company which owns some oil fields with reserves of tens of millions tonnes.
Canh further said that since early this year, PetroVietnam has signed six new oil contracts with foreign partners, bringing to 13 the total number of its exploring and exploiting projects overseas.


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