President Truong Tan Sang hosted a reception for Secretary General of the Russia National Energy Commission and Rosneft Chairman Igor Sechin in Hanoi on March 22.

The State leader expressed his pleasure at the fine outcomes of the relationship between Vietnam and Russia, describing oil cooperation as one of the most effective elements of their bilateral partnership. He highlighted the success of the venture between the Vietnam Oil and Gas Group (PetroVietnam) and Rosneft, Russia’s largest oil company.

He declared that Vietnam is committed to facilitating both countries’ oil and gas firms to do business, and encouraged Rosneft to expand its Vietnamese investment further.

For his part, Sechin said that with the development of the energy sector in Vietnam, Rosneft will invest in many projects and hopes PetroVietnam to promote Rosneft’s activities in the country.

Rosneft operates in oil and gas exploration and exploitation and produces oil and petrochemical products. It boasts oil reserves of about 22.8 billion barrels.-VNA