Vietnam, Russia Firms Sign 2 Oil & Gas Contracts
The state-run Vietnam Oil and Gas Group (PetroVietnam), PetroVietnam Exploration and Production Corporation (PVEP), and the Russian state company OAO Zarubezhneft signed two deals to jointly explore and produce oil and gas in Vietnam and Cuba.
Under a memorandum of understanding (MoU) signed between PetroVietnam and Zarubezhneft, the two firms will work together to develop oil and gas exploration and production offshore Vietnam.
According to another MoU signed between PetroVietnam’s affiliate PVEP and the Russian oil firm, the two will explore and produce oil and gas together at blocks 31, 32, 42 and 43 offshore Cuba.
PetroVietnam and Zarubezhneft have cooperated since 1991 and jointly produced 180 million tons of crude oil at the Bach Ho (White Tiger) and the Rong (Dragon) oilfields, said PetroVietnam’s General Director, Phung Dinh Thuc. (Investment)
Vietnamese
