Vietnam-Russia Energy Cooperation Ties Considered Paragon: Party Chief

Vietnam-Russia energy cooperation ties is regarded as a paragon because it has proven great efficiency, said visiting Vietnamese Party Chief Nong Duc Manh.

 

Manh made the statement during his visit to Russian oil firm Zarubezhneft on July 11, the government of Vietnam said on its website on the same day.

 

On the occasion, Manh witnessed the signing ceremonies of three cooperation agreements between Zarubezhneft and the state-run Vietnam Oil and Gas Group (PetroVietnam).

 

The two firms agreed to transform their joint venture Vietsovpetro into a limited company after 2010, cooperate to produce oil and gas at an oilfield in he Yamal-Nenets Autonomous District, and continue boosting ties in oil and gas exploration and production in Vietnam, Russia and third countries in the next years.

 

Talking with the Zarubezhneft staff, the Manh affirmed that Vietsovpetro always plays the leading role in the Vietnamese oil and gas industry, and the joint venture has made great contributions to Vietnam’s national economic growth over the past years.

 

He noted that the oil project in the Yamal-Nenets Autonomous District will be a milestone for the concerned parties to continue carrying out other cooperation projects in Russia and other countries.

 

The two sides are expected to start commercial production at the oilfield in the third quarter of this year.