Vietnam ready to invest $300 into development of oil and gas shelf of the Caspian Sea

​Vietnam and Dagestan have agreed on the development of the oil and gas shelf of the Caspian Sea. Vietnam is ready to invest $150-300 mln into the project.

PM of Dagestan, A. Gamidov, met with the representatives of PetroVietnam headed by Mr. Pkhong. The parties studied the perspectives of development of the oil and gas sector of the Caspian Sea. The preliminary agreement on the investment of $150-300 mln was reached at the meeting of the head of Dagestan, R. Abdulatipov, with the President of PetroVietnam.

Previously Mr. Abdulatipov at the meeting with the President and CEO of PetroVietnam, N. K. Kkhan, discussed the perspectives of cooperation of the state corporation with “State Oil and Gas Corporation of Dagestan” in the sphere of development of subsoil sites at the shelf of  the Caspian Sea neighboring Dagestan – Izberbashsky block-2 and Sulaksky block-4.