Mobil to Explore for Oil Near Vietnam:...
Mobil to Explore for Oil Near Vietnam: The company said it will sign a contract to search for oil off the country’s southeast coast, becoming the first U.S. oil company drilling in the country since the end of the Vietnam War almost 20 years ago. Mobil struck oil in 1974 off the coast of what was then South Vietnam, but pulled out when Communist North Vietnam captured the country in April, 1975. The new agreement is to be signed Tuesday with PetroVietnam, the state-owned oil monopoly, said Mobil spokesman Thomas Collins. The agreement will formalize the 72.5% share in a block with a promising area called Thanh Long, or Blue Dragon, which was awarded to Mobil and a group of Japanese and Indonesian partners in December.
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