The Vietnam Oil and Gas Corporation (PetroVietnam) and National Shipping Lines Corporation (Vinalines) signed an agreement in Hanoi on August 29 to develop a port complex in the southern province of Ba Ria-Vung Tau.

Under the agreement, Ben Dinh-Sao Mai port will be developed into a complex supplying oil and gas services, shipyards, oil rig assembly facilities, container handling services and a petroleum depot. When the complex is completed, the two corporations will work together to export crude oil and gas.

The two corporations also agreed to consider share swaps and investment in each other’s affiliate companies.