KazMunaiGas to start exploration in Vietnam’s offshore fields
Kazakhstan's state oil and gas company, KazMunaiGas, plans to start exploration in the offshore fields of Vietnam, Kazakh President Nursultan Nazarbayev told reporters on Monday.
"KazMunaiGas and the Petrovietnam Petroleum Corporation have established cooperation," Nazarbayev said.
He said the Vietnamese company in turn, will carry out exploration of oil fields in Kazakhstan.
In 2011, trade turnover between Kazakhstan and Vietnam grew by 55 per cent to more than $59 million. In 2010, it amounted to more than $38 million. Vietnam imports asbestos, flat-rolled products of iron, steel and various types of equipment from Kazakhstan.
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