Angola and Vietnam would soon complete the joint-venture in oil sector agreement signed in 2008, CEOAFRICA.com gathered.

Speaking at the completion of his two-day visit to Angola, Vietnamese Foreign Affairs Minister, Pham Binh Minh said the issue was discussed at the meeting with Angolan Oil Minister, Botelho de Vasconcelos, and both parties decided to set up a joint venture in the oil sector with a view to the exploration of crude in Angola and Vietnam.

He also announced that Petro-Vietnam and Sonangol (Angola) are holding contacts in this field in order to bring into practice what had been agreed upon in the cooperation protocol.

Sources disclosed that this agreement will enable Sonangol EP to develop in future, its activities of exploration and production of oil in Vietnamese territory.

Confirming this, the Oil Minister, Botelho de Vasconcelos also stressed that the process could have been implemented earlier on, but some situation prevents the project.