Promotion of Vietnam - Russia cooperation on petroleum sector

The Signing Ceremony on cooperation agreement between PetroVietnam Chairman Nguyen Xuan Son and  Zarubezhneft General Director Kudryasov SI under the witness of the General Secretary Nguyen Phu Trong and President V. Putin.(Photo: Tri Dung – VNA).

Two leaders high appreciated the bilateral cooperation in the petroleum sector; agreed to fully implement existing projects and start up the new projects, create favorable conditions for activities of the state oil and gas companies of the two countries in each of other the territory; decided to strengthen cooperation on the petroleum exploration and exploitation in the continental shelf of Vietnam in accordance with the International Law, including the 1982 UN Convention on the Sea Law.

Besides, two sides unified to speed up the negotiation on cooperative agreement on extending and modernizing Dung Quat oil refinery Plant.

Within the framework of the Talk, General Secretary Nguyen Phu Trong and President V.Putin already witnessed the signing ceremony of 9 cooperation documents between the two countries, including 4 documents on the petroleum field.

The signing Ceremony on cooperation agreement between the PetroVietnam Chairman Nguyen Xuan Son and  Gazprom Neft General  Director A. Dyukov under the witness of  General Secretary Nguyen Phu Trong and President V. Putin.(Photo: Tri Dung - VNA).

The agreements include: framework agreement on gas pricing mechanism of the Gazpromviet joint venture Company between Petrovietnam and Gazprom;  agreement on long-term crude oil supply between Petrovietnam and Gazpromneft and agreement on  establishing a Joint Venture Company for exploration and exploitation of  Dolghinskoe mine in the Russian Federation between Petrovietnam and Gazpromneft; memorandum of understanding on strategic cooperation between Petrovietnam and Zarubezhneft.

VietnamEnergy.vn