Vietnam, Russia oil and gas firms step up cooperation

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The function mentioned geological exploration and hydrocarbon exploration in Vietnam, as well as the prospects for implementing joint projects in oil and gas production, gas engine fuel, and training for PetroVietnam’s officials.

The signing of the minutes of the 49th meeting of the Vietsovpetro joint venture council.

The two sides talked about the implementation of a joint project to build a low-tonnage liquefied natural gas (LNG) production complex and another using LNG as fuel for engine motors.

They also discussed a plan to set up a network to supply LNG at petrol stations in Vietnam.

On July 4, Russian oil company Zarubezhneft held the 49th meeting of the Vietsovpetro joint venture council. Vietsovpetro is a Russian-Vietnamese joint venture specialising in oil and gas exploration.

According Vietsovpetro General Director Nguyen Quynh Lam, despite difficulties in the first five months of 2018, the company has still managed to complete and surpass some of the production targets set in the previous meeting.

Over the January-May period, Vietsovpetro exploited 1.8 million tonnes of oil, surpassing the set target by 0.7 percent, as well as 81.9 million cubic meters of natural gas from the Dragon oilfield, surpassing the set goal by 17.8 percent.

For the whole 2018, the joint venture strives to exploit over 4 million tonnes of oil and 139.1 million cubic meters of natural gas, as well as bring in 1.2 million cubic meters of offshore gas.

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