Mubadata would like to develop the small oil and gas fields in Vietnam

Vice Prime Minister Trinh Dinh Dung received Mr. Naser Al Hajri- Deputy general manager of Mubadala Oil and Gas Group (MP) in charge of the affairs in Southeast Asia.

Speaking at the meeting, Deputy PM Trinh Dinh Dung affirmed that the relationship between Vietnam and UAE is developing very well. The two sides have become important partners of each other in economic, commercial and investment cooperation. At present, UAE has many investment projects in Vietnam while many Vietnamese are living and working in the UAE, making significant contributions to the economic and social development of this country.

Mr. Trinh Dinh Dung highly appreciated the achieving results, as well as the future investment ideas of MP in Vietnam. He asked MP to expand investment in a number of other oil and gas lots and also expand investment to renewable energy projects in the form of the new investments or cooperation with Vietnamese and foreign enterprises operating in Vietnam. The Government of Vietnam will create favorable conditions for MP as well as UAE investors to expand their investment and business for bringing success to all parties.

Thanking the Vice Prime Minister for a reception, Mr. Naser Al Hajri, expressed his wish to continue close cooperation with Vietnamese and foreign partners to expand investment in oil and gas exploration. MP desires to develop the idea of developing the small-scale petroleum discovery clusters and, at the same time, it also wants to expand to developing the renewable energy projects.

Mubadala Investment Group is owned by the Government of UAE, one of the world's largest state investment funds, with a total asset of $ 350 billion. Mubadala - MP is a strategic part of the Mubadala Investment group in petroleum and petrochemicals, which manages assets of about $ 40 billion at current market prices.

Currently MP operates mainly in the Middle East and Southeast Asia. In Vietnam, MP has implemented investment for more than 10 years in a number of oil and gas fields. Recently, MP has signed an agreement to buy all  the interests of participation and the rights of management in a number of other oil and gas lots and is planning to expand investment further.

VietnamEnergy.vn