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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Buzz Mills who wrote (305)9/17/1997 1:54:00 PM
From: Tomas   of 2742
 
Vietnam in oil deal with U.S. and Canadian firms

HANOI, Sept 17 (Reuter) - Vietnam is poised to sign an oil exploration deal for an offshore block known as 12E with Opeco of the United and Canada's International Petroleum Corporation (IRP.TO), a Petrovietnam official said on Wednesday. The state oil and gas firm official, who declined to be named, said the contract was due to be signed on Thursday.

Under the agreement, the foreign partners would take the exploration risks. In the case of any discovery, PetroVietnam would hold up to 15 percent of a production-sharing contract.
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