Petrovietnam to explore seven oil blocks in Cuba

Written by:
Subscribe to Oneindia News

HANOI, Nov 21 (Reuters) State oil group Petrovietnam will drill for oil and gas at seven blocks in Cuba, its first exploration project in Latin America, Vietnam's government said on Wednesday.

Petrovietnam's exploration arm PVEP will explore three onshore blocks 16, 17 and 18 and four offshore blocks N31, N32, N42 and N43, Deputy Prime Minister Hoang Trung Hai said in a directive.

The government did not provide details on the timeline and value of the investment, which would be Petrovietnam's fifth overseas.

The group has been stepping up efforts to explore for oil abroad to make up for declining production at home with projects in Algeria, Mongolia, Venezuela and Indonesia.


Please Wait while comments are loading...