Gazprom and PetroVietnam ink several deals

Russian gas giant Gazprom on Monday signed a number of documents to strengthen cooperation with Vietnam Oil and Gas Group (PetroVietnam).

The deals were signed between Gazprom’s Alexey Miller and Nguyen Quoc Khanh, Chairman of the Board of Directors of PetroVietnam.

The signing ceremony was attended by Dmitry Medvedev, Prime Minister of Russia, and Nguyen Xuan Phuc, Prime Minister of Vietnam.

The companies signed three MOUs on the development of new oil and gas projects, power generation, and the addendum to extend the cooperation agreement on personnel training.

According to the memorandum of understanding on the development of new oil and gas projects, the parties plan to examine further opportunities for cooperation in the field of hydrocarbon prospecting, exploration and development. Among the opportunities being considered are joint activities within new projects at licensed blocks on the shelf of Vietnam and in third countries, Gazprom said.

The MOU 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,” Gazprom said.

The cooperation agreement on personnel training was extended for five years under the addendum.

Together with PetroVietnam we successfully conduct hydrocarbon exploration and production, work on NGV projects, and implement staff training programs. 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,” said Alexey Miller.