Zarubezhneft, Rosneft to jointly search for oil offshore Vietnam

On June 16th, 2014 within the frame of the World Petroleum Congress Rosneft President, Chairman of the Management Board Igor Sechin, PetroVietnam Oil Corporation President and General Director Dr. Do Van Hau and General Director of JSC Zarubezhneft Sergey Kudryashov signed a Memorandum of Understanding in the field of geological exploration in Vietnamese shelf.

The document presumes, among other things, that the parties willconsider the possibility of cooperation and joint geological explorations in offshore Blocks 125 and 126, in Fukhan, on the Vietnamese shelf. In addition, the Memorandum provides for the possibility of cooperation expansion beyond the frames of these Blocks, if new mutually beneficial partnership prospects are detected in the process of exploration.

Commenting on the signing of the Memorandum, Igor Sechin said: “The signing of this Memorandum by Rosneft, Zarubezhneft and PetroVietnam is an evidence of strategic mutually beneficial cooperation between the Russian oil and gas companies and Vietnamese partners. Possible extension of the gas assets portfolio in the region will let Rosneft to strengthen its positions on the energy resources supplier market and get new competences in offshore production. In the same time, implementation of this project will let Vietnam strengthen its energy safety.”

Regarding the signing, Do Van Hau said: “Along with cooperation in Vietnam, Rosneft and other Russian companies continue extending the cooperation with PetroVietnam Oil Corporation on the territory of Russian Federation and consider options of cooperation in third countries”

Currently, Rosneft is involved in projects on producing gas and condensate in two Vietnamese offshore blocks:

*06.11 Rosneft Vietnam B.V. owns 35% in the project, is a project operator; initial gas reserves are about 86 billions cubic meters.
*5.3/11 Rosneft Vietnam B.V. owns 100% in the project, is a project operator; The current resource assessment is 38,4 billion m3 of gas and 39 million tons of gas condensate.
In addition, the Company owns 32.7 % in the pipeline Nam Con Son.

 

Press Release, June 16, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply