The Vietnam-Russia Petroleum Joint Venture (Vietsovpetro) was appointed manager of the Nam Rong-Doi Moi oil field following a recently-singed joint agreement among six contractors.

The agreement is a legal basis for exploration, development and exploitation, including common operation principles, regulations on responsibility, and obligations and interests of the manager, according to the Vietnam National Oil and Gas Group (PetroVietnam).

A framework agreement to develop the offshore Vietnamese Nam Rong-Doi Moi oil field was signed in September, 2008 between Vietsovpetro and the VRJ company, PetroVietnam said. The company also added that they conducted exploration activities on the oil field.

The six contractors include PetroVietnam, the OAO Zarubezhneft federation, the PetroVietnam Exploration and Exploitation Corporation (PVEP), the DK Idemitsu Cuu Long Company, Vietsovpetro and the VRJ company./.