Honeywell and Petrovietnam sign Memorandum of Understanding

Honeywell has reported it has signed a Memorandum of Understanding (MoU) with Vietnam Oil and Gas Group (PetroVietnam) to increase their presence in Vietnam. The MoU was signed during US President Barack Obama’s visit to Vietnam, and in the presence of representatives of the US and Vietnamese governments and executives from the companies.

The MoU solidifies the relationship between Honeywell and PetroVietnam.

“The increasing cooperation between Honeywell and PetroVietnam is critical not only to our two companies, but to our two countries,” said Mai Trang Thanh, President of Honeywell Indochina. “We are greatly honored that our advanced technologies and services can play a part in Vietnam’s development into a safer, more secure and energy efficient country.”

Pursuant to the terms of the MoU, Honeywell will provide professional consulting services to PetroVietnam and its subsidiaries for future investment projects as well as to support PetroVietnam in engineering design and economic and technical project feasibility studies for all of its facilities.

“Honeywell is an important partner to oil and gas companies in Vietnam over the last two decades, and this MOU marks another significant milestone in that relationship,” said David Low, Vice President and Asia General Manager of Honeywell Performance Materials and Technologies. “Honeywell has provided process technologies as well as automation and control solutions, technical management services, and safety solutions for PetroVietnam’s upstream and downstream projects as well as those of its subsidiaries, including Bien Dong POC, Vietsovpetro, Dung Quat Refinery, and PV Gas.”

Edited from press release by Angharad Lock

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