Zarubezhneft wants to continue investing in the energy industry in Vietnam

Zarubezhneft has had more than 40 years of cooperation with the Vietnam National Oil and Gas Group ( Petrovietnam ) through two joint ventures, Vietsovpetro (in Vietnam) and Rusvietpetro (in Russia) in geological exploration and oil and gas exploitation.

Reporting to Prime Minister Pham Minh Chinh on the results of cooperation between Zarubezhneft and Petrovietnam, General Director Sergei Kudryashov also said that, along with oil and gas cooperation with Vietnam, specifically expanding projects with Petrovietnam, Zarubezhneft Company wishes to expand cooperation to other fields, such as energy, minerals, and especially wishes to build an energy center in Vietnam.

Prime Minister Pham Minh Chinh receives General Director of Zarubezhneft Company (Russian Federation) Sergei Kudryashov - Photo: VGP/Nhat Bac

Prime Minister Pham Minh Chinh said that Vietnam always considers oil and gas cooperation as one of the main pillars of the Vietnam-Russia Comprehensive Strategic Partnership, in which the traditional and trustworthy cooperation between Petrovietnam and Zarubezhneft plays an important role.

The joint projects between Petrovietnam and Zarubezhneft not only bring economic efficiency, but also contribute to strengthening strategic trust, enhancing energy security, training human resources and improving technological capacity for Vietnam. The Vietnamese Government always cares about and supports the joint ventures Vietsovpetro and Rusvietpetro, demonstrated through many intergovernmental agreements and protocols on facilitating the operations of joint ventures.

The Vietnamese Government supports Petrovietnam and Zarubezhneft to continue researching and expanding investment activities on the principle of ensuring investment efficiency and harmonizing interests between related parties, complying with the provisions of Vietnamese law. The Prime Minister suggested that the two sides continue to discuss and seek measures to further improve the operations of joint ventures, promptly removing obstacles in the cooperation process in a constructive and friendly spirit.

Currently, Vietnamese ministries and sectors are considering the proposals of Petrovietnam and Zarubezhneft to create more favorable conditions for the expansion of the Vietsovpetro and Rusvietpetro Joint Ventures' operations in Vietnam and the Russian Federation.

The Prime Minister also emphasized that Vietnam always creates favorable conditions for Russian oil and gas companies, including Zarubezhneft, to operate in Vietnam in the oil and gas sector. At the same time, he proposed

Zarubezhneft continues to pay attention to and facilitate Rusvietpetro's operations in Russia, possibly expanding its operating area, acquiring new oil and gas fields and potential blocks to make the most of existing infrastructure, technology and human resources, improving logistics conditions, taxes and fees when necessary; improving Vietsovpetro's efficiency, ensuring reasonable output, and investing in exploration in new potential blocks.

Along with that, promote cooperation in LNG, LNG supply chain, LNG port warehouse; transfer of depleted mine exploitation technology, deep drilling technology, difficult drilling technology; consider cooperation in the fields of renewable energy, hydrogen, new materials; cooperate in training high-quality human resources for Vietnam. In particular, the two sides will study investment cooperation and deploy oil and gas services in third countries.

Comment (0)