Việt Nam’s Oil and Gas Group (PetroVietnam) and Nicaragua’s Petroleum Company (Petronic) on Monday signed a comprehensive petroleum cooperation agreement and pact on jointly surveying offshore oil reserves in Nicaragua.
Under the agreements, after conducting joint researches, the two sides will decide whether they continue to discuss and sign contracts within one year.
Earlier, PetroVietnam had discussed cooperation opportunities with Petronic, Nicaragua’s Ministry of Energy and Mining, and Nicaragua’s Energy Institute. They agreed that the two countries have huge potentials for energy cooperation, particularly petroleum and related services.
PetroVietnam is boosting its strategy for seeking new cooperation chances in Central America. So far, it has engaged in various exploitation activities with Cuba, Venezuela and Peru.