HANOI: Leading regional oil and gas services provider SapuraCrest Petroleum Bhd (SapuraCrest) on Saturday signed a cooperation agreement with PetroVietnam Technical Services Corporation (PTSC) as a further step in establishing its commitment to Vietnam.

SapuraCrest was represented by Datuk Shahril Shamsuddin, executive vice-chairman of SapuraCrest Petroleum and Sapura Group president and chief executive officer, while PTSC was represented by its general director, Nguyen Hung Dung.

The ceremony was witnessed by Prime Minister Datuk Seri Najib Tun Razak on the sidelines of a three-day, 17th Asean Summit and Related Summits which ended Saturday.

'This collaboration will enable SapuraCrest to develop its existing stable of products, together with PTSC, in order to meet market requirements in Vietnam.

'This will further support SapuraCrest's international business development strategy,' said Shahril, adding that the company's has had a presence for more than five year in Vietnam.

He also announced that SapuraCrest would offer five scholarships for PTSC personnel to pursue studies in chemical engineering, business management and related courses at the Asia Pacific University College in Technology Park, Bukit Jalil.

The two companies also committed to set up a comprehensive cooperation with which they would be able to co-develop their core businesses in supplying technical services for oil and gas projects, such as seismic surveying, installing and building ocean constructions.

SapuraCrest has already established a presence in India, Australia, Russia, Japan and Africa, in addition to most of Southeast Asia. -- Bernama