The two companies are involved in constructing Vietnam's second oil refinery, the 200,000-barrel-per-day Nghi Son facility, which is scheduled to start operations in the summer of 2017.

The joint venture aims to launch fuel service stations in Vietnam starting early next year and begin wholesale oil operations or direct sales to businesses in the future, an Idemitsu spokesman said.

The venture will mainly receive fuel supplies from the Nghi Son facility once it starts operations, he added.