Sri Lanka, Vietnam ink oil dealOctober 14th, 2011 - 9:45 pm ICT by IANS
Colombo, Oct 14 (IANS) Sri Lanka and Vietnam have signed an oil and gas exploration agreement, Vietnamese President Truong Tan Sang said at a forum here Friday.
Vietnam’s state-run PetroVietnam had earlier expressed interest in exploring oil in Sri Lanka.
Both nations will also partner in machinery manufacturing, Truong said at the Sri Lanka-Vietnam Business Forum.
The sectors that will directly benefit are agriculture, electrical and equipments, Xinhua reported.
State-run Ceylon Petroleum Corp also signed a deal with PetroVietnam, the Lanka Business Online reported.
Cairn India earlier this month struck oil off Sri Lanka’s northeastern coast.
The Vietnamese president is on a three-day official visit to the island nation. He pledged to continue facilitating business opportunities between the two countries.
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Tags: agriculture, business forum, business opportunities, ceylon, exploration agreement, India, island nation, lanka business, northeastern coast, oil and gas, oil and gas exploration, oil deal, petroleum corp, petrovietnam, sectors, sri lanka, vietnam business, vietnamese, xinhua