Rome

Italy's Eni signs deal with Vietnam's state energy agency

Deal opens expansion into Asian markets

Italy's Eni signs deal with Vietnam's state energy agency

Rome, January 21 - Italian energy giant Eni signed a pact Monday with Vietnam's state petroleum agency, continuing its expansion in Asia. The Memorandum of Understanding (MOU) was signed between Paolo Scaroni, chief executive of Eni, and Do Van Hau, president and chief executive of state oil firm PetroVietnam. The MOU promises greater expansion in Vietnam for Eni and, according to a release, was approved after a meeting between Italy's outgoing Premier Mario Monti, and the General Secretary of the Communist Party of Vietnam Nguyen Phu Trong. The arrangement should also allow PetroVietnam an opportunity to expand its activities internationally. Eni will also share with PetroVietnam certain proprietary knowledge, technology and skills training.

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