HANOI — PETRONAS and Vietnam National Industry – Energy Group (Petrovietnam) have signed a Strategic Alliance Agreement (SAA) to strengthen their 35-year partnership and advance cooperation in energy security, sustainability and long-term value creation.
The agreement establishes a framework for both organisations to leverage their respective strengths and explore opportunities across the energy value chain, including upstream development, gas and liquefied natural gas (LNG), downstream activities and low-carbon solutions.
The SAA was signed at Petrovietnam’s headquarters by PETRONAS President and Group Chief Executive Officer Tan Sri Tengku Muhammad Taufik and Petrovietnam President and Chief Executive Officer Le Manh Cuong.
The partnership was further reaffirmed through an exchange of documents between Tengku Muhammad Taufik and Petrovietnam Chairman Le Ngoc Son at the Vietnamese Government Headquarters, witnessed by Vietnam’s Prime Minister Le Minh Hung.
The engagement underscored both organisations’ commitment to deepening industry cooperation in support of Vietnam’s energy security and long-term development.
PETRONAS has operated in Vietnam since 1991, when it became one of the pioneering international investors in the country’s upstream oil and gas sector.
Since then, its presence has expanded into oil and gas, petrochemicals, renewable energy and LNG, supported by longstanding cooperation with Petrovietnam and other Vietnamese partners.
The partnership has also extended to regional energy cooperation, including a tripartite renewable energy initiative involving Vietnam, Malaysia and Singapore. Under the initiative, Malaysia serves as both a power transit hub and a demand centre, while Singapore is a key demand centre.
PETRONAS said it remained committed to working with Petrovietnam to support Vietnam’s evolving energy needs while unlocking opportunities for broader energy cooperation across the region.
