PetroVietnam, Zarubezhneft Sign Cuba Oil, Gas E&P MoU -Executive

State-run Vietnam National Oil and Gas Group, or PetroVietnam, and Russia's Zarubezhneft Co. have signed an memorandum of understanding on oil and gas exploration offshore Cuba, a PetroVietnam official said Monday.

PetroVietnam's unit PetroVietnam Exploration and Production Corp. and Zarubezhneft Friday agreed to "prepare works for oil and gas exploration and production in a deep-water area offshore Cuba," said the official, who didn't want to be named.

Zarubezhneft has also agreed to consider joining PetroVietnam in developing some offshore Vietnam blocks, the official added, without specifying any timetable or other details.

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