Vietnam’s PV Gas, Russia’s Zarubezhneft to further core area cooperation
PV Gas, under state-owned Petrovietnam, and Russia’s state-owned Zarubezhneft will further cooperate in oil-gas and energy activities, the former said on Monday.
The two firms signed an agreement last week on the sidelines of the BRICS Summit 2024 in Kazan city of Russia in the presence of Vietnamese Prime Minister Pham Minh Chinh. Details were not revealed.
PV Gas board chairman Nguyen Thanh Binh (front, right) and Zarubezhneft general director Kudryashov Sergei Ivanovich (front, left) at an MoU signing ceremony in Kazan, Russia, October 23, 2024. Photo courtesy of PV Gas.
Chinh called on the two giants to expand their collaboration in line with the Vietnam-Russia comprehensive strategic partnership, ensuring benefits of both peoples. He also suggested PV Gas and Zarubezhneft collaborate in new sectors including tourism, green and clean energy, and infrastructure for oil-gas and energy activities.
Zarubezhneft general director Kudryashov Sergei Ivanovich mentioned the resolution of some challenges facing the Russian firm after an April meeting with PM Chinh. He called on the Vietnamese government and PM Chinh to back further cooperation between Zarubezhneft and Petrovietnam.
Zarubezhneft has been present in Vietnam for nearly 40 years, with engagement in the Bach Ho (White Tiger), Rong (Dragon) and Thien Ung (Eagle) fields, among others. It holds a 49% stake in Vietsovpetro, a joint-venture with Petrovietnam.
Zarubezhneft and PV Gas have been jointly deploying gas projects in Vietnam. On March 15, 2024, they signed a memorandum of understanding on the gas purchase and sale related to the Thien Nga-Hai Au field, 320 kilometers southeast of the southern province of Ba Ria-Vung Tau.
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