HCMC — Vietnam and Russia’s state-owned oil company Zarubezhneft are exploring broader cooperation in oil and gas, liquefied natural gas (LNG), and energy development.
Prime Minister Pham Minh Chinh met Sergei Kudryashov, general director of Zarubezhneft, on November 27 during the latter’s working visit to Vietnam, reported the Government news website (baochinhphu.vn).
Zarubezhneft has partnered with Vietnam’s Petrovietnam for more than 40 years through two joint ventures: Vietsovpetro in Vietnam and Rusvietpetro in Russia. The ventures focus on geological exploration and oil and gas production.
Kudryashov said the company aims to expand into other areas, including minerals and energy, and is interested in establishing an energy hub in Vietnam.
Chinh asked both sides to continue discussions to improve joint venture operations and resolve challenges. He reaffirmed Vietnam’s support for Russian oil and gas companies operating in the country.
The prime minister also urged Zarubezhneft to support Rusvietpetro in Russia, expand its operational areas, acquire new oil and gas fields, and optimize existing infrastructure, technology, and workforce. He called for maintaining Vietsovpetro’s efficiency, ensuring stable production, and investing in exploration at new potential blocks.
The meeting included discussions on LNG supply chains and storage, technology transfer for depleted-field extraction, deep drilling, and renewable energy, hydrogen, and new material development. Training high-quality Vietnamese workforce and cooperation in providing oil and gas services in third countries were also proposed.
