Vietnamese Ambassador to Russia inspects Rusvietpetro joint venture’s production

Monday, 2021-10-11 10:34:19
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Vietnamese Ambassador to Russia inspects Rusvietpetro joint venture’s production. (Photo:
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NDO/VNA – Vietnamese Ambassador to Russia Dang Minh Khoi made a working trip to the Nenets autonomous region of Russia on October 6-7, during which he inspected production activities of the Russia-Vietnam oil and gas joint venture (Rusvietpetro) in North Khosedaiu field.

The Vietnamese diplomat highly valued the spirit and efforts of Rusvietpetro’s leaders, as well as Vietnamese workers for their effective coordination with Russian partners despite difficult and harsh working conditions.

He expressed satisfaction with the joint venture's efforts in ensuring the spiritual life and working environment for the staff, affirming that Rusvietpetro is an important impetus for the comprehensive strategic partnership between Vietnam and Russia.

Ambassador Khoi also had a working session with Yury Bezdudnuy, Governor of the Nenets autonomous region, during which the ambassador expressed his hope that the Governor and officials of the region will continue to create the most favourable conditions for the Rusvietpetro joint venture.

Zarubezhneft and the Vietnam Oil and Gas Group (PetroVietnam) formed the Rusvietpetro joint venture in September 2008 with Petro Vietnam having a 49% stake. This is the most successful offshore investment project of PetroVietnam in the field of oil and gas exploration and production.

As of August 31, 2021, the joint venture had exploited 30.48 million tonnes of oil, and total profit transferred to Vietnam reached US$1.263 billion.

In 2021, Rusvietpetro targets to exploit over 3 million tonnes of crude oil with an estimated revenue of over US$1.3 billion and post-tax profit around US$410 million.