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International

BRIEFLY

April 20, 1992|From Times Staff and Wire Reports

Vietnam's Oil Firm in Joint Venture: Petrovietnam, Vietnam's state oil company, signed an agreement with a Canadian group to set up a joint venture that will build a natural gas pipeline and a gas plant for $300 million. The agreement was signed in Hanoi with Liquigaz/SNC, which groups one of Canada's biggest natural gas recovery companies, Liquigaz, with SNC, Canada's biggest engineering and construction firm. Vietnam produced 557,000 barrels of crude oil last year but has no way to capture natural gas that is being flared off its South China sea rigs. The project is expected to take two years to complete.

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