Viet Nam, Russia foster oil, gas co-operation

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Báo Đầu Tư English - 1 week(s) ago 3 readings

Deputy Prime Minister Trinh Dinh Dung has called for stronger co-operation between Viet Nam and Russia in energy, especially in oil and gas exploration and exploitation.

Deputy Prime Minister Trinh Dinh Dung (Third from right) Director General of the Russian oil and gas group Zarubezneft, Kudryashov Sergey Ivanovich, in Ha Noi on Thursday.- Photo giaoducthoidai.vn

During his reception for the visiting Director General of the Russian oil and gas group Zarubezneft, Kudryashov Sergey Ivanovich, in Ha Noi on Thursday, the Deputy PM hoped Zarubezneft to continue expanding its exploration and exploitation activities on Viet Nam’s continental shelf.

Dung attached significance to the co-operation project between the the Russian group and the Vietnam National Oil and Gas Group (PetroVietnam), saying that it plays a key role in realising the Viet Nam-Russia comprehensive strategic co-operative partnership.

The Government of Viet Nam will create all conditions for more effective bilateral co-operation, he pledged.

Over the past years, the two governments have continuously facilitated co-operation between the two groups, contributing to the socio-economic development of both countries, Dung said.

For his part, Kudryashov Sergey Ivanovich expressed his thanks to the Government of Viet Nam for providing support for the company’s operation, and briefed the host on the performance of the company in 2016 and the tasks set for 2017.

In spite of challenges facing the sector in 2016 with the low-record price fall to US$43 per barrel, Vietsopetro and Rusvietpetro still earned high profits thanks to minimising their production cost, he said.

He underlined co-operation potential for the two joint ventures in the future and suggested that they should continue seeking for investment opportunities in line with their benefits.

Source VNS

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