Moscow. 23 May. INTERFAX-AGI – JSC Gazprom and Petrovietnam signed an agreement concerning further collaboration between the companies on Friday.
As stated in a report from the Russian company, the document covers geological exploration work and the further development of four new blocks on the Vietnamese shelf. The Vietgazprom joint venture will be the operator for developing the blocks in question.
The agreement also covers the creation by the parties of a joint venture, Gazpromviet, to guarantee the company’s participation in oil and gas projects on Russian territory and in other countries. Gazprom will be represented by Zarubezhneftegaz in the aforementioned joint venture.
At the meeting, Aleksei Miller, head of Gazprom, together with Chan Ngok Khan, the president of the Vietnamese national oil and gas group Petrovietnam, and Din La Tkhang, chairman of the board of directors of the company, discussed the question of the companies’ interaction in the development of hydrocarbon reserves on the Vietnamese shelf, and the possibilities for Gazprom’s participation both in designing an overall blueprint for the growth of the gas sector in Vietnam and in projects with other countries. “The participants at the meeting discussed the way forward for carrying out Gazprom’s existing projects on Vietnamese territory and came to an agreement about the concrete steps to be taken to set work going in promising directions”, it was observed in the report.
During the visit of the Russian delegation to Vietnam, meetings were also held with President Nguyen Min Chiyet and prime-minister Nguyen Tan Zung, along with the permanent member of the presidium of the Central Committee of the Communist Party of Vietnam, Chiung Tan Shang. During the meeting with the Russian delegation, Chiung Tan Shang announced an interest to develop collaboration with Gazprom in North Africa, Latin America and Angola.
Currently, Vietgazprom - the joint operating company between Gazprom and VNG Petrovietnam - is conducting geological exploration work in block N112 of the Vietnamese continental shelf in relation to the contract dated 11 September 2000. The contract covers the search, exploration, production and sale of hydrocarbons.
In August 2007, during Vietgazprom’s geological exploration work in block N112 of the Vietnamese continental shelf in the Bak Bo Gulf, an industrial inflow of natural gas was obtained during at test at the first exploratory well in the Bao Vang area. The presence of gas condensate was recorded when the deposit was opened.
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