New development in Vietnam - Russian Federation oil and gas cooperation: Towards energy security and sustainable development

Within the framework of the official visit to the Russian Federation and attendance at the 80th Anniversary of Victory Day in the Great Patriotic War by General Secretary To Lam and his wife, authorized by the Governments of the two countries, Deputy Minister of Industry and Trade Nguyen Hoang Long and Minister of Energy of the Russian Federation Sergei Tsivilev signed 03 important cooperation documents in the oil and gas sector.

Bộ Công thương•13/05/2025

These three documents include: Protocol amending the Agreement between the Government of the Socialist Republic of Vietnam and the Government of the Russian Federation on continued cooperation in the field of geological exploration and oil and gas exploitation on the continental shelf of the Socialist Republic of Vietnam within the framework of the Vietnam-Russia Joint Venture "Vietsovpetro" signed on December 27, 2010;

Protocol amending the Agreement between the Government of the Socialist Republic of Vietnam and the Government of the Russian Federation on continued cooperation in the field of geological exploration and oil and gas exploitation in the territory of the Russian Federation within the framework of the Limited Liability Company “Joint Venture Company “Rusvietpetro” signed on April 20, 2016;

Agreement between the Government of the Socialist Republic of Vietnam and the Government of the Russian Federation on expanding the area of operation in the field of geological exploration and oil and gas exploitation on the continental shelf of the Socialist Republic of Vietnam and on the territory of the Russian Federation.

Deputy Prime Minister Bui Thanh Son and Deputy Prime Minister of the Russian Federation D. Chernyshenko exchanged signed documents in the oil and gas sector.

Oil and gas cooperation between Vietnam and the Russian Federation has a long tradition and is considered to bring practical and lasting results for both sides. The governments of both sides attach great importance and are determined to continue to develop and expand cooperation through promoting negotiations and successfully signing the above 3 documents to create a cooperation framework until 2050.

The Protocols amending the Intergovernmental Agreement are an important foundation to help improve the operational efficiency of Vietsovpetro and Rusvietpetro - two typical symbols of cooperation between Vietnam and the Russian Federation in the oil and gas sector, contributing to ensuring energy security and sustainable development of both countries.

Meanwhile, the Intergovernmental Agreement on expanding cooperation in the field of geological exploration and oil and gas exploitation on the continental shelf of Vietnam and in the territory of the Russian Federation is a concrete demonstration of the commitment of the two governments to deep and long-term development cooperation in the oil and gas sector. The contents of the documents are believed by the parties to open a new era in bilateral energy cooperation, contributing to consolidating and promoting the Vietnam-Russian Federation Comprehensive Strategic Partnership.

On May 10, 2025, right after the High-level Talks at the Kremlin, the cooperation documents after signing were honored to be directly exchanged by the Deputy Prime Ministers of the two sides: Deputy Prime Minister, Minister of Foreign Affairs of Vietnam - Bui Thanh Son and Deputy Prime Minister of the Russian Federation - Dmitry Nikolayevich Chernyshenko, witnessed by General Secretary To Lam and Russian President Vladimir V. Putin.

Source: Foreign Market Development Department

Source: https://moit.gov.vn/tin-tuc/hoat-dong/hoat-dong-cua-lanh-dao-bo/buoc-phat-trien-moi-trong-hop-tac-dau-khi-viet-nam-lien-bang-nga-huong-toi-an-ninh-nang-luong-va-phat-trien-ben-vung.html