Abu Dhabi Group to launch USD150mn Vietnam Petchem JV
28 Jul 2017
(MENAFN) Abu Dhabi Baron Point Petroleum Services Co. has reached a deal with national oil and gas firm PetroVietnam Oil Corp to launch a mutual venture that will finance, build and operate petroleum product.
The firm is a majority owned by Sheikh Khalifa Bin Khalid Bin Ahmed Al Hamed, in tie with an accomplished team of senior managers and experts.
Moreover, the USD150mn Bonded Terminal System at Phu Quoc Island is chosen to supply and store crude oil and refined petroleum products.
Additionally, growth prospects of the Bonded Terminal System involve off take of refined fuel in markets like Vietnam, Cambodia, the Philippines, Myanmar, Indonesia and others.