Viet Nam,ltd c1 Russia foster oil, gas co-operation

March 17, 2017 - 10:04

Deputy Prime Minister Trịnh Đình Dũng has called for stronger co-operation between Việt Nam and Russia in energy, especially in oil and gas exploration and exploitation.

Deputy Prime Minister Trịnh Đình Dũng (Third from right) Director General of the Russian oil and gas group Zarubezneft, Kudryashov Sergey Ivanovich, in Hà Nội on Thursday. — Photo giaoducthoidai.vn

HÀ NỘI — Deputy Prime Minister Trịnh Đình Dũng has called for stronger co-operation between Việt Nam and Russia in energy, especially in oil and gas exploration and exploitation.

During his reception for the visiting Director General of the Russian oil and gas group Zarubezneft, Kudryashov Sergey Ivanovich, in Hà Nội on Thursday, the Deputy PM hoped Zarubezneft to continue expanding its exploration and exploitation activities on Việt Nam’s continental shelf.

Dũng attached significance to the co-operation project between the the Russian group and the Vietnam National Oil and Gas Group (PetroVietnam), saying that it plays a key role in realising the Việt Nam-Russia comprehensive strategic co-operative partnership.

The Government of Việt Nam will create all conditions for more effective bilateral co-operation, he pledged.

Over the past years, the two governments have continuously facilitated co-operation between the two groups, contributing to the socio-economic development of both countries, Dũng said.

For his part, Kudryashov Sergey Ivanovich expressed his thanks to the Government of Việt Nam for providing support for the company’s operation, and briefed the host on the performance of the company in 2016 and the tasks set for 2017.

In spite of challenges facing the sector in 2016 with the low-record price fall to US$43 per barrel, Vietsopetro and Rusvietpetro still earned high profits thanks to minimising their production cost, he said.

He underlined co-operation potential for the two joint ventures in the future and suggested that they should continue seeking for investment opportunities in line with their benefits. — VNS