PetroVietnam, KazMunaiGaz to Work Together in Kazakhstan

PetroVietnam and KazMunaiGaz National Co. have agreed to jointly explore for oil and gas in western Kazakhstan.

The companies plan to develop and produce oil and gas on-shore in the oil-rich Mangistau region, KazMunaiGaz said in an e-mailed statement, Bloomberg reported earlier this month.

If the location is promising, PetroVietnam, and KazMunaiGaz will negotiate commercial, technical and contract terms, including stakes in a joint venture, according to the statement.