The Hai Duong Petroleum and Marine Corporation (HADUCO) will provide seven multi-purpose support vessels for the Oil and Natural Gas Corporation Limited (ONGC) of India for oil and gas exploration and exploitation activities off the eastern and western coasts of India.

A contract was signed between the two companies on June 20 in India.

Speaking at the signing ceremony, counselor at the Vietnamese Embassy in India Do Thanh Hai said the contract will help open up fresh opportunities for future cooperation between businesses in the two countries.

Established in 2000, HADUCO owns a fleet of 42 vessels operating on a global scale, including in Malaysia, Myanmar, Thailand, Russia, India, and Japan.

The company has been aggressively expanding its fleet, which has doubled since 2018 despite the global slowdown due to low crude oil prices and the Covid-19 pandemic.