By DayakDaily Team
HANOI, Oct 16: PETRONAS and Vietnam National Industry – Energy Group (Petrovietnam) have further strengthened their partnership with the signing of a Strategic Alliance Agreement (SAA), marking a new milestone in 35 years of collaboration and reaffirming their shared commitment to advancing energy security, sustainability and long-term value creation.
According to a media release, the agreement establishes a forward-looking framework for both organisations to leverage their respective strengths and pursue opportunities across the energy value chain, spanning upstream development, gas and liquefied natural gas (LNG), downstream opportunities, as well as low-carbon solutions.
The SAA was signed at Petrovietnam’s headquarters by PETRONAS president and group chief executive officer (CEO), Tan Sri Tengku Muhammad Taufik, and Petrovietnam president and CEO, Le Manh Cuong.
The engagement, which continued with the exchange of documents between Muhammad Taufik and Petrovietnam chairman, Le Ngoc Son, witnessed by the Prime Minister of Vietnam, Le Minh Hung, at the Government Headquarters, reaffirmed the commitment of both organisations to deepen industry cooperation in support of Vietnam’s energy security and long-term development.
“PETRONAS has been present in Vietnam since 1991, when it made its first investment in the country’s upstream sector as a pioneer international investor in Vietnam’s oil and gas industry,” said the media release.
Its footprint has since expanded across oil and gas, petrochemicals, renewable energy and LNG, supported by deep-rooted cooperation with Petrovietnam and other Vietnamese partners.
This longstanding partnership has also expanded into regional energy collaboration, including the tripartite renewable energy initiative between Vietnam, Malaysia, and Singapore, where Malaysia serves as both a power transit hub and a demand centre, alongside Singapore as a key demand centre.
“PETRONAS remains committed to working with Petrovietnam to support Vietnam’s evolving energy needs while unlocking opportunities for broader energy cooperation across the region.” — DayakDaily
