Vietnam, Russia step up cooperation in oil and gas exploration, exploitation
A delegation from the Petrovietnam Exploration Production Corporation (PVEP), led by Chairman of the PVEP Members Council Tran Quoc Viet, on May 24 held a working session with their colleagues of Russia's Zarubezhneft JSC in Russia to discuss potential cooperation areas.
At the signing ceremony of a memorandum of understanding between PVEP’s technical centre (PVEP - ITC) and VNIINeft in Russia on May 24 (Photo: VNA)
Moscow (VNA) – A delegation from the Petrovietnam Exploration Production Corporation (PVEP), led by Chairman of the PVEP Members Council Tran Quoc Viet, on May 24 held a working session with their colleagues of Russia's Zarubezhneft JSC in Russia to discuss potential cooperation areas.
The Vietnamese side praised the technical capabilities of Zarubezhneft and its affiliated petroleum research exploration institute VNIINeft.
PVEP and VNIINeft have significant potential for future joint projects, given the latter’s history of supplying products to Vietnam, Viet said.
In response, Vyacheslav Terentyev, Deputy Director General for Business Development at Zarubezhneft, introduced the company’s new development directions, including geothermal energy, import substitution, and digital transformation.
At the event, a memorandum of understanding was signed between VNIINeft and PVEP’s technical centre (PVEP - ITC) to concretise their cooperation opportunities.
🔯 On the same day, the delegation met with leaders of RusVietPetro, the most successful overseas oil and gas joint venture of the Vietnam Oil and Gas Group (Petrovietnam). RusVietPetro exploits about 3 million tonnes of oil annually, contributing substantial foreign exchange earnings of Vietnam./.
The PetroVietnam Exploration Production Corporation (PVEP) – a subsidiary of the Vietnam Oil and Gas Group (Petrovietnam) - has exploited 3 million tonnes of oil equivalent in the first 10 months of 2023, exceeding 14% of the planned target set by the group in 2023.
The Petrovietnam Exploration Production Corporation (PVEP), a subsidiary company of the Vietnam Oil and Gas Group (PetroVietnam), has grown into a leading international oil and gas firm, according to Dr. Nguyen Quoc Lap, Vice President of the Vietnam Petroleum Association and former General Director of PVEP.
The PetroVietnam Exploration Production Corporation (PVEP) – a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam) - is targeting to exploit 1.8 million tonnes of oil equivalent in the second half of this year, the corporation has announced.
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