Hanoi (VNA) – The Vietnamese Government will create favourable conditions for the Russian oil and gas company Zarubezhneft to strengthen cooperation with the Vietnam National Industry-Energy Group (Petrovietnam) and other Vietnamese enterprises, affirmed Permanent Deputy Prime Minister Pham Gia Tuc on May 27.
Receiving Zarubezhneft General Director Sergey Kudryashov, who is on a working visit to Vietnam, the Deputy PM praised the long-standing and effective cooperation between PetroVietnam and the Russian group, describing it as a bright spot in economic ties between Vietnam and Russia.
He noted that the visit aims to realise high-level agreements reached between Russian President Vladimir Putin and General Secretary of the Communist Party of Vietnam Central Committee and State President To Lam to promote the two countries' Comprehensive Strategic Partnership.
According to the Deputy PM, the discussions between Zarubezhneft, Vietnam’s Ministry of Industry and Trade, and Petrovietnam during the visit will help further strengthen and expand bilateral cooperation more effectively and sustainably.
He stressed that the Vietnam-Russia oil and gas joint venture Vietsovpetro has become a successful model of foreign investment attraction and a symbol of Vietnam-Russia cooperation, contributing significantly to the development of Vietnam’s oil and gas industry.
Built on the traditional friendship between the two countries, economic cooperation in the energy sector has made practical contributions to deepening Vietnam-Russia relations, he added.
For his part, Kudryashov briefed the Deputy PM on the results of cooperation between Zarubezhneft and Petrovietnam, saying the two sides have maintained effective collaboration in the oil and gas sector for 45 years.
In 2025, in the witness of President Putin and Party General Secretary and State President To Lam, Zarubezhneft and Petrovietnam signed protocols extending the operations of oil and gas joint ventures in Vietnam and Russia until 2050.
The two sides are also considering expanding investment promotion activities in third countries, he said, adding that Zarubezhneft is currently the largest Russian enterprise supplying coal to the Vietnamese market.
Welcoming Zarubezhneft’s efforts and contributions to oil and gas exploration and exploitation cooperation in both Vietnam and Russia, Tuc expressed support for the two groups’ plan to expand investment cooperation into third countries.
He also suggested that beyond oil and gas, Zarubezhneft should promote cooperation with Vietnamese partners in other areas of mutual strength, such as offshore wind power development, technology transfer, electricity and energy development, and rare earth exploitation./.
