Aramco and Petrovietnam sign Collaboration Framework Agreement

Aramco has signed a Collaboration Framework Agreement with Vietnam Oil and Gas Group (Petrovietnam). The agreement was formalized during an official visit by the Prime Minister of Viet Nam, H.E. Pham Minh Chinh, to Saudi Arabia.

It paves the way for potential cooperation spanning the storage, supply and trading of energy and petrochemical products. The agreement was signed during the FII 8th Edition in Riyadh with a view to identifying potential opportunities to optimize operations and unlock additional value.

This agreement lays the foundation for potential collaboration across the hydrocarbon value chain. We look forward to exploring multiple opportunities with Petrovietnam that complement Aramco’s global downstream ambitions, contribute to Petrovietnam’s own strategy, and reinforce Asia’s importance in global energy and petrochemicals markets.
— Mohammed Y. Al Qahtani, Aramco Downstream president

Le Ngoc Son, Petrovietnam CEO, said thatthe signing of the Collaboration Framework Agreement between Petrovietnam and Aramco “is a strategic step, which is evidence of the strong cooperative relationship between Petrovietnam and Aramco in particular, and between the Socialist Republic of Viet Nam and the Kingdom of Saudi Arabia in general.”

Caption for top photo: Pictured at the signing ceremony standing, from left, are Le Xuan Huyen, Petrovietnam vice president; Nguyen Manh Hung, Viet Nam Minister of Information and Communications; Dao Ngoc Dung, Minister of Labor, Invalids and Social Affairs; Tran Van Son, Minister and Chairman of the Government Office; Mohammed Y. Al Qahtani, Aramco Downstream president; H.E. Pham Minh Chinh, Prime Minister of Viet Nam; Amin Nasser, Aramco president and CEO; Bui Thanh Son, Viet Nam Deputy Prime Minister and Minister of Foreign Affairs; Nguyen Hong Dien, Viet Nam Minister of Industry and Trade; and Faisal M. Al Faqeer, Aramco senior vice president of In Kingdom Liquids to Chemicals Development. Sitting, from left, are Le Ngoc Son, Petrovietnam CEO, and Yasser M. Mufti, Aramco executive vice president of Products and Customers.