PetroVietnam has signed the largest pipeline deal in Vietnam's history that will bring fuel from the country's offshore fields to processing plants in the south-west of the country.

The company will maintain a 51 per cent stake in the project, while Chevron, Moeco and PTTEP will also hold significant interests.

A statement from the company released yesterday commented: "The signing of the BCC to develop the Block B Gas Pipeline Project among PV Gas, Chevron, MOECO and PTTEP will help to ensure the country’s energy security and to promote industrial development in the Mekong Delta."

The landmark $1 billion agreement will also provide support for PetroVietnam's long-term strategic training and development programme, which was established in 2009.

Through to 2025, PetroVietnam will invest substantial sums in establishing a world-class management core constituted by local workers in order to provide a strong base for sustained economic growth and increased exploration and production.

Oil and Gas Directory: Training and Development