Gazprom, PVN joint projects to reach full capacity in 2016

The Gazprom headquarters hosted yesterday a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Nguyen Xuan Son, Chairman of the PetroVietnam Oil and Gas Group (PVN) Board of Directors.

The parties addressed the future cooperation in the oil and gas sector. In particular, they touched upon the joint actions offshore Vietnam as well as within gas production projects in Russia. It was pointed out that the jointly developed Moc Tinh and Hai Thach fields located on the Vietnamese shelf would reach their full capacity by 2016 and would produce nearly two billion cubic meters of gas per year.

According to a statement on Gazprom’s website, special attention was given to the cooperation in the oil refining and supply businesses. In particular, the parties pointed out the positive dynamics of the talks on Gazprom’s possible entry into the project for upgrading the Dung Quat oil refinery in Vietnam.

Gazprom and PetroVietnam Oil and Gas Group entered into the Agreement on Strategic Partnership in 2009. In line with the document, the parties will continue jointly operating in Vietnam’s offshore blocks and studying further prospects for cooperation in vacant licensed blocks of the Republic. The Agreement also contemplates a pro-active interaction between Gazprom and PetroVietnam in oil and gas projects across Russia, Vietnam and third countries within Gazpromviet.

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