Prime Minister Nguyen Tan Dung left Algiers on June 2 afternoon (local time), concluding his official visit to Algeria at the invitation of his counterpart Abdelmalek Sellal.

In a joint press release issued on the occasion of the visit, both the Vietnamese and Algerian PMs highlighted the need to foster bilateral ties, especially in economy, trade and investment.

They agreed to back businesses of both sides to cooperate in all fields for mutual benefits, including agro-fishery, oil and gas, infrastructure building, renewable energy and metallurgy.

The two sides expressed delight at the inauguration of gathering system of Bir Seba oil development project – a vivid manifestation of the sound bilateral partnership that both leaders hope to further expand to other areas in the future.

Both sides shared the determination to raise two-way trade to 1 billion USD in the coming time and create a balance in trade.

They underscored the stance of peacefully settling disputes without using or threatening to use force, respecting sovereignty and territorial sovereignty of countries as well as the right to self-determination of nations in line with the UN Charter, international law and the spirit of the Non-Aligned Movement that both Vietnam and Algeria are members.

The two countries support all initiatives towards this targets in all regions in the world, as well as all efforts to ensure stability, security and maintain peace in the international arena.-

PM hosts Algeria-Vietnam Friendship Association’s President

Prime Minister Nguyen Tan Dung received President of the Algeria-Vietnam Friendship Association Cherfaoui Tayeb on June 2 within the framework of his official visit to the African country.

The Vietnamese Government leader emphasised that the bilateral traditional friendship and cooperation has been consolidated and developed continuously in numerous fields, but it has yet to match the two countries’ potential.

He suggested both countries exert more efforts to speed up the implementation of cooperation programmes and projects in order to enhance the relations, for the interests and aspirations of the two peoples.

Speaking of the association’s operations, the PM affirmed that the association, together with the Vietnam-Algeria Friendship Association, has contributed positively to the bilateral time-honoured relationship.

He hoped that with its role as a bridge linking the two nations, the Algeria-Vietnam Friendship Association will better its operations and work to boost cooperation between the two countries’ enterprises and people.

Cherfaoui Tayeb told the Vietnamese leader that with the support of the Vietnamese Embassy in Algeria, the association has organised a lot of promotion activities for enterprises.

The association wishes the two Governments continue creating favourable conditions for the association to organise more programmes and projects connecting businesses for the interests of both side.

On the same day, the Vietnamese PM received President of the Algeria Vovinam Federation Djouadj Mohamed.

Bir Seba project – a symbol of Vietnam-Algeria cooperation: PM

Prime Minister Nguyen Tan Dung on June 2 visited Sonatrach, the Algeria state-owned oil and gas company, and attended a ceremony to inaugurate the installation of the gathering system for Bir Seba oil field development project.

The event also saw the participation of Algerian Prime Minister Abdelmalek Sellal.

The Sonatrach is partnering with the PetroVietnam Exploration Production Corporation (PVEP) in Groupement Bir Seba joint venture that exploits Bir Seba and MOM petroleum fields at lots 433a and 416b in Algeria ’s Sahara desert.

The joint venture is considered a successful model of cooperation between Vietnam and Algeria , and a lucrative investment abroad of the Vietnam National Oil and Gas Group (PetroVietnam).

Apart from Sonatrach and PVEP, the project also has the involvement of Thailand ’s PTT Exploration and Production Company (PTTEP) with participating interests of 25 percent, 40 percent and 35 percent, respectively.

Launched in 2002, it is scheduled to exploit first commercial oil batch from Bir Seba and MOM fields in July this year with an output of 2,900 tonnes of oil, or 20,000 barrels per day. The figure will be raised to 5,800 tonnes (40,000 barrels) per day between 2018 and 2021. In 25 years of operation, the project is expected to produce about 30 million tonnes or 200 million barrels.

According to the PetroVietnam, the firm will bring home up to 150 million USD from oil sales, and will recoup its investment in six years.

Addressing the event, PM Nguyen Tan Dung described the project as a symbol of the successful partnership between Vietnam and Algeria , which contributes to the promotion of the traditional friendship and sound cooperation between the two countries and paves the way for both sides to expand their collaboration to other fields.

He praised the efforts of Vietnamese and Algerian workers and engineers engaging in the project during the past over 10 years.

He revealed that the Algerian Government has agreed to allow the Sonatrach and PVEP to exploit more nearby oil fields in the future. On its part, the Vietnamese Government will support and create favourable conditions for the firms to conduct exploration and exploitation in Vietnam’s continental shelf as well as in a third country, PM Dung pledged.

At Sonatrach headquarters, PM Nguyen Tan Dung and his Algerian counterpart witnessed the signing of a strategic partnership between Sonatrach and PetroVietnam.

PM receives Algeria-Vietnam Friendship Parliamentarians’ Group

Prime Minister Nguyen Tan Dung wished the Algeria-Vietnam Friendship Parliamentarians’ Group would continue contributing to the two countries’ multi-faceted relations while receiving the group’s President Hocine Maaloum in Algiers on June 2.

The PM expressed his delight at visiting Algeria, affirming the nation is a close partner of Vietnam. The bilateral relationship has developed since the two countries struggled for national liberation.

He briefed the group’s chief on the outcomes of his talks and meetings with the Algerian Prime Minister, President and Speaker of the Council of the Nation, during which, he said, both sides discussed and agreed on numerous specific measures to intensify and expand the bilateral time-honoured friendship and multi-faceted cooperation.

Speaking of the relationship between the two parliaments, the Vietnamese Government leader confirmed that their close collaboration is an asset and creates a firm foundation for the two countries’ comprehensive cooperation.

Hocine Maaloum said the Algerian parliament will continually support and boost Algeria’s partnership with Vietnam across fields.

The official hoped that the two legislative bodies would speed up cooperation programmes and legislative experience sharing in order to contribute to fostering cooperation activities between the two Governments.-