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Vietnam, Russia foster oil, gas cooperation

Deputy Prime Minister Trinh Dinh Dung has called for stronger cooperation between Vietnam and Russia in energy, especially in oil and gas exploration and exploitation.
Vietnam, Russia foster oil, gas cooperation ảnh 1Deputy PM Trinh Dinh Dung (R) and Director General of the Russian oil and gas group Zarubezneft, Kudryashov Sergey Ivanovich (Source: VNA)

Hanoi (VNA) – Deputy Prime Minister Trinh Dinh Dung has called for strongercooperation between Vietnam and Russia in energy, especially in oil and gasexploration and exploitation.

Duringhis reception for the visiting Director General of the Russian oil andgas group Zarubezneft, Kudryashov Sergey Ivanovich, in Hanoi on March16, the Deputy PM hoped Zarubezneft to continue expanding its exploration and exploitationactivities on Vietnam’s continental shelf.

Dung attached significance to the cooperation project between the two groups,saying that it plays a key role in realising the Vietnam-Russia comprehensivestrategic cooperative partnership.

The Government of Vietnam will create all conditions for more effectivebilateral cooperation, he pledged.

Overthe past years, the two Governments have continuously facilitated cooperationbetween the Russian group and the Vietnam National Oil and Gas Group(PetroVietnam), contributing to the socio-economic development of bothcountries, Dung said.

Forhis part, Kudryashov Sergey Ivanovich expressed his thanks to the Government ofVietnam for providing support for the company’s operation, and briefed the hoston the performance of the company in 2016 and the tasks set for 2017.

Inspite of challenges facing the sector in 2016 with the low-record price fall to43 USD per barrel, Vietsopetro and Rusvietpetro still earned high profitsthanks to minimising their production cost, he said.

Heunderlined cooperation potential for the two joint ventures in the future, andsuggested that they should continue seeking for investment opportunities inline with their benefits.-VNA
VNA
#Trinh Dinh Dung #Zarubezneft Russia
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