Vietnam, Russia oil and gas firms step up cooperation
Chairman of the Member Council of the Vietnam Oil and Gas Group (PetroVietnam) Tran Sy Thanh and Chairman of the Management Committee of Russian gas group Gazprom Alexey Miller discussed a broad array of future cooperation fields at their recent working session in Moscow.
The minutes of the the 49th meeting of the Vietsovpetro joint venture council was signed on July 4 (Photo: VNA)
Moscow (VNA) – Chairman of the MemberCouncil of the Vietnam Oil and Gas Group (PetroVietnam) Tran Sy Thanh andChairman of the Management Committee of Russian gas group Gazprom Alexey Millerdiscussed a broad array of future cooperation fields at their recent workingsession in Moscow.
The function mentioned geological explorationand hydrocarbon exploration in Vietnam, as well as the prospects forimplementing joint projects in oil and gas production, gas engine fuel, andtraining for PetroVietnam’s officials.
The two sides talked about the implementation ofa joint project to build a low-tonnage liquefied natural gas (LNG) productioncomplex and another using LNG as fuel for engine motors.
They also discussed a plan to set up a networkto supply LNG at petrol stations in Vietnam.
On July 4, Russian oil company Zarubezhneft heldthe 49th meeting of the Vietsovpetro joint venture council. Vietsovpetrois a Russian-Vietnamese joint venture specialising in oil and gasexploration.
According Vietsovpetro General Director Nguyen Quynh Lam, despite difficultiesin the first five months of 2018, the company has still managed to complete andsurpass some of the production targets set in the previous meeting.
Over the January-May period, Vietsovpetro exploited 1.8 million tonnes of oil,surpassing the set target by 0.7 percent, as well as 81.9 million cubic metersof natural gas from the Dragon oilfield, surpassing the set goal by 17.8percent.
For the whole 2018, the joint venture strives to exploit over 4 million tonnesof oil and 139.1 million cubic meters of natural gas, as well as bring in 1.2million cubic meters of offshore gas.-VNA
Deputy Prime Minister Hoang Trung Hai and Russia’s First Deputy Prime Minister Igor Shuvalov discussed ways to further promote future economic and trade links between Vietnam and Russia.
Vietnam and Russia signed an inter-governmental agreement on further geological survey and oil and gas exploitation in Russia at a ceremony in Hanoi on April 20.
By December 14, the Vietnam-Russia oil and gas exploration joint venture Vietsovpetro has earned over 1.89 billion USD, exceeding its target of 1.88 billion USD set for 2017.
The Vietnam-Russia Oil and Gas Joint Venture Vietsovpetro has set targets for 2018 of pumping 4 million tonnes of oil and condensate and 126.5 million cubic metres of natural gas.
The Vietnam-Russia Oil and Gas Joint Venture, Vietsovpetro, set a goal to reduce more than 2,200 workers in Block 09-1 from 2016-2020 as an effort to step up its restructuring.
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The minutes of the the 49th meeting of the Vietsovpetro joint venture council was signed on July 4 (Photo: VNA) 
