PetroVietnam’s affiliates, Exploration and Production Corp. (PVEP) and VietsovPetro (VSP), will get involved in oil ands gas exploitation in block M-2 offshore Myanmar.

Under a contract signed with the Eden group and Myanmar Oil and Gas Enterprises (MOGE) in Nay Pyi Taw on October 2, the PVEP will hold 45 percent of stakes, VSP (40 percent) and Eden group (15 percent).

This is Vietnam’s first oil and gas project in Myanmar and the second overseas. The first one was signed by PVEP and VSP and Tunisia in February 2008.