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Vietnam’s state-run oil and gas group PetroVietnam announced a bid to entice new investors to the group-led $8 billion Block B-O Mon gas exploitation and pipeline complex following the withdrawal of the US’ oil giant Chevron from the strategic project to fuel future southern gas-fired power plants.

On June 17, Vietnam Oil and Gas Group (PVN) received all shares and executive right from Chevron in Vietnam. Mr. Nguyen Xuan Son, the Chairman of PVN and Ms. Melody Meyer, the President of Asia - Pacific Chevron have signed an agreement for transferring shares and executive right from Chevron to PVN.