Vietnam, U.S. firm sign oil exploration deal HANOI - Vietnam's state oil monopoly Petrovietnam and a private U.S. firm have signed a production sharing contract to explore for oil and gas in offshore Blocks 102 and 106, official media reported on Monday. The Lao Dong (Labour) newspaper said the U.S. firm in the deal was called American Technologies Inc. Blocks 102 and 106 are located off northern Vietnam in the Tonkin Gulf. Surveys previously conducted by other foreign energy companies had shown there was mainly gas potential in the area, the paper said. It did not provide details on the contract or more information on the U.S firm. Officials were not available to comment. The production sharing contract (PSC), which was signed last Friday, was the 38th Petrovietnam has concluded with foreign oil firms since the country opened up to foreign investment in the late 1980s, Lao Dong said. Between 15 to 20 of those PSCs are operational, according to industry executives. Vietnam is a minor oil and gas player by world standards and has no oil refinery. It exports most of its crude. Reuters - January 30, 2000.