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Wednesday, June 19, 2024

PM: Vietnam, Russia to boost oil cooperation

The Saigon Times

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HCMC – Prime Minister Pham Minh Chinh met on April 8 with Kudryashov Sergei Ivanovich, general director of Zarubezhneft, during the latter’s visit to Vietnam, reaffirming Vietnam’s commitment to enhancing cooperation in the oil and gas industry with Russia.

PM Chinh expressed appreciation for Russia’s substantial support across various sectors, particularly in oil and gas, over the years. He reiterated Vietnam’s dedication to facilitating oil cooperation projects between both nations, underscoring their pivotal role in bilateral ties.

Highlighting the successful partnerships between Zarubezhneft and PetroVietnam, including the joint ventures Vietsovpetro in Vietnam and Rusvietpetro in Russia, PM Chinh commended their contributions to the two economies. In response, Zarubezhneft’s general director discussed plans for future investment in Vietnam.

With over 40 years of experience in joint ventures with PetroVietnam, Zarubezhneft has made significant strides in geological surveys and oil and gas extraction, generating employment opportunities and boosting both countries’ budget revenues.

The company is also exploring opportunities to expand cooperation with Vietnam, particularly in offshore wind farm projects, aligning with the nation’s renewable energy goals.

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