Gazprom, PetroVietnam to Jointly Develop Oil, Gas Projects
Gazprom and PetroVietnam have signed a deal to jointly develop new oil and gas projects and cooperate on gas-based power generation.
According to a Memorandum of Understanding on the development of new oil and gas projects, the parties plan to examine opportunities for mutually beneficial cooperation “in the field of hydrocarbon prospecting, exploration and development”, according to a Gazprom statement. Among the opportunities being considered are joint activities within new projects at licensed blocks on the shelf of Vietnam and in other countries.
The Memorandum of Understanding on power generation reflects the intention of the signatories to explore the possibilities of joint projects for gas-based power generation within Vietnam. To achieve that goal, the parties plan to use gas from their joint projects offshore Vietnam and LNG from Gazprom Group's portfolio.
“Together with PetroVietnam we successfully conduct hydrocarbon exploration and production, work on NGV projects, and implement staff training programs,” said Alexey Miller, chairman of the Gazprom management committee.
“The documents signed today expand the scope of our collaboration. We plan to jointly deliver new oil and gas projects and cooperate in the power sector, thereby gradually enhancing our partnership,” he continued.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Gazprom's Second Quarter Profit Soars On Rising Energy Prices, Sales (Aug 29)
- Russian Gas Exports Hit a New Summertime Record (Jul 17)
- Trump: US to Compete With Russia for Europe Gas Market (Jul 16)
Company: PetroVietnam more info
- Vietnam Court Sentences to Death PetroVietnam Ex-Chairman in Mass Trial (Sep 29)
- Asia Oil Refinery Delays Favor Producer Case for Extending Output Cuts (May 22)
- Vietnam's Sole Refinery Plans to Sell 5-6 Pct Stake in IPO in Q4 (May 22)