Russia and Vietnam exchange access to each others oil and gas markets

Vietnamese oil and gas companies are trying to strengthen their positions in Russia in exchange for the access to its national shelf and sales market for Russian oil and gas companies. Having signed the agreements about expansion of cooperation, Vietnamese party asked Russian government for new deposits in Nenets autonomous district. Besides, Vietnam can obtain access to Russian shelf if Rosnedra (Russian Agency on Subsoil Use) accept the application of its partner Zarubezhneft. Experts say, expansion of Petrovietnam to Russia is expectable.

Yesterday Zarubezhneft, Gazprom and Gazprom Neft signed a number of agreements with Vietnamese state Petrovietnam in the framework of the visit of Vietnamese PM Nguyễn Tấn Dũng. The agreements are aimed at strengthening of Russian-Vietnamese cooperation in the sphere of oil and gas. The Heads of Petrovietnam and Zarubezhneft signed a memorandum about foundation of a joint drilling company. The Head of Zarubezhneft says, Vietsovpetro (the JV in Vietnam) has four drilling vessels and the fifth is under construction. Besides, Russian company has two vessels. “We can make up a good drilling company which can become one of top-20 largest enterprises in this sphere. We only need to calculate everything attentively and make the feasibility study of the project”, General Director of Zarubezhneft specified.