The contract extension allows OVL to maintain its stake in the lucrative oil blocks, which are expected to yield substantial reserves. This move not only strengthens OVL?s foothold in Vietnam?s oil sector but also supports its broader goal of expanding its global oil production capabilities.

Vietnam's oil blocks have been a valuable asset for OVL, contributing to the company's overall production portfolio. The extension comes as part of OVL's strategic efforts to secure long-term resources and optimise its global operations.

The contract renewal reflects the confidence of both OVL and the Vietnamese authorities in the potential of these oil fields. It underscores the importance of sustained international partnerships in meeting global energy demands.

With this extension, OVL is well-positioned to continue its successful operations in Vietnam, contributing to the stability and growth of its international energy investments.