Illustrative image (Source: pvn.vn)

Hanoi (VNA)
– The Vietnamese Government always encourages and creates favourable conditions for Vietnamese and Russian oil and gas companies to strengthen their cooperation, said Deputy Prime Minister Trinh Dinh Dung. 

Dung made the statement while receiving Kudryashov Sergey Ivanovich, General Director of Zarubezhneft JSC, in Hanoi on January 25.

Zarubezhneft and the Vietnam Oil and Gas Group (PetroVietnam) formed the joint ventures of Vietsovpetro in Vietnam and Rusvietpetro in Russia.

Praising oil and gas cooperation between Vietnam and Russia in the recent years, Dung said the sector is one of the pillars in bilateral ties, bringing huge incomes to their state budgets.

Oil and gas exploration and exploitation activities between PetroVietnam and Zarubezhneft have contributed to strengthening and developing the Vietnam-Russia strategic partnership, the Deputy PM noted.

He suggested Zarubezhneft work closely with PetroVietnam to seek measures to cut production costs, improve the operation efficiency of Vietsovpetro and Rusvietpetro, apply latest technologies, optimise potential of current oil fields and look for new ones.

Kudryashov said all joint projects between Zarubezhneft and PetroVietnam have been implemented effectively and on schedule as agreed by both sides, adding that Vietsovpetro and Rusvietpetro plan to explore new oil and gas fields in the future.

He asked the Vietnamese Government to direct relevant ministries and agencies to remove obstacles hindering operations of the joint ventures.

Acknowledging the proposal, Dung assigned the Ministry of Industry and Trade and PetroVietnam to work with Zarubezhneft and relevant agencies of Vietnam and Russia to address existing problems.-VNA