PetroVietnam signs several agreements with Russian companies

Oil pumps.

Oil pumps.

Lori / Legion-Media
Deals were signed with Zarubezhneft, Gazprom and Rosneft.

PetroVietnam signed a series of agreements with Russian companies on May 17. The deals were signed in Moscow in the presence of visiting Vietnamese Prime Minister Nguyen Xuan Phuc.

The Vietnamese state-run oil and gas company signed a production-sharing agreement with Russia’s Zarubezhneft on the development of the 16-1/15 gas block on the Vietnamese shelf.

It also signed two memoranda with Gazprom on mutual understanding.

The first document was a memorandum to cooperate in the generation of electricity from gas.

The second was a memorandum to cooperate in new oil and gas projects.

PetroVietnam also signed a memorandum of understanding with Rosneft. The details of the memorandum, which was signed by Rosneft Chief Igor Sechin and PetroVietnam Chairman Nguyen Qwoc Khanh, were not revealed to the public.  

Read more: FTA bodes well for Vietnam-Eurasian Union economic ties - experts

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