Within the context of the delegation from OJSC Gazprom's visit to Vietnam, a working meeting took place between Alexey Miller, Chairman of the Board, and the Prime Minister of the Socialist Republic of Vietnam, Nguyen Tien Dung.
The parties discussed the prospects for cooperation between Gazprom and the Vietnamese Oil & Gas Group (VNG) PetroVietnam in joint projects to develop oil and gas resources, both on Vietnam's continental shelf, and on Russian Federation territory.
Great appreciation was expressed for the work done by the company relating to the commencement of industrial production of natural gas from deposits situated within licence blocks 05-2 and 05-3 on Vietnam's continental shelf.
In addition, the significance was noted of the agreement signed between the companies Gazprom and PetroVietnam to establish a joint venture for the implementation of a project for the use of natural gas as a motor fuel inside the Republic of Vietnam.
At the meeting, an agreement was discussed between Gazprom and PetroVietnam regarding the acceleration of the negotiations regarding the organisation of supplies of liquefied natural gas in Vietnam with the Vladivostok-LNG project, and the intention to sign a Framework Agreement to supply LNG until the end of 2013.
Following the negotiations, Alexey Miller and Nguyen Tien Dung confirmed their interest in strengthening their mutually beneficial long-term partnership, and have expressed the consensus that interaction between the companies inside Russia and Vietnam has high development potential.
In 2000, OJSC Gazprom and VNG PetroVietnam signed a contract on prospecting, exploration, production and sales of hydrocarbons in Block 112 of the continental shelf of Vietnam. In order to implement this contract, a joint operating company was established by OJSC Gazprom and VNG PetroVietnam – Vietgazprom, in which the Gazprom Group is represented by its sole specialised operator of projects outside the Russian Federation on exploration and production of hydrocarbons, Gazprom International.
The Bao Vang gas condensate field was discovered in this Block in 2007, and in 2009, in the adjacent Bao Den field, the opening of a gas field of the same name took place.
In 2008, the parties signed an Agreement on cooperation, which provides for the carrying out of geological exploration work and further development of four new blocks offshore from the Socialist Republic of Vietnam, and also the creation of a joint venture, Gazpromviet, for working in Russia and third countries.
In October 2008, Gazprom and PetroVietnam signed a 30-year contract for blocks No.129, 130, 131 and 132 on the continental shelf of Vietnam under PSA conditions, the operator for which is Vietgazprom. Under this contract, 2-D seismic survey work, electro- and gravi-magnetic surveying, geochemical studies, complex interpretation of data from the studies carried out and basin modelling have been carried out.
Gazprom and PetroVietnam signed a Strategic Partnership Agreement in 2009. The parties agreed to continue their joint work on Vietnam's continental shelf under previously concluded contracts, and will also examine further potential for work in new licensed blocks.
In 2012, Gazprom International, at Gazprom's request, entered the project for exploration and development of blocks 05-2 and 05-3 (the Mос Tinh and Hai Thасh deposits), and in October 2013, a ceremony was held to mark the first gas obtained from the Moc Tinh deposit.
Also in October 2013, an agreement was signed on the basic principles for a joint venture for carrying out a project on the use of natural gas as a motor fuel inside Vietnam. The Russian side is represented in the JV company by Gazprom International, as well as Gazprom Gas Engine Fuel LLC.