June 12 (Bloomberg) -- Petroleos de Venezuela SA, the country's state oil company, plans to explore for oil and gas in Vietnam, Bolivia and Argentina.

The company is considering exploration in Vietnam's offshore areas, Luis Vierma, vice president for exploration and production of Petroleos Venezuela, told reporters after attending the Asia Oil and Gas Conference in Kuala Lumpur today.

``We are analyzing the data packages for the opportunities they are offering us,'' said Veirma. ``They offered us two blocks but we refused and now they are offering us more.''

Petroleos Venezuela passed on the exploration areas after reviewing geological data, he said.

To contact the reporter on this story: Christian Schmollinger in Kuala Lumpur at christian.s@bloomberg.net.

Last Updated: June 12, 2007 05:51 EDT