Rosneft, PetroVietnam discuss offshore projects

Rosneft Chairman of the Management Board Igor Sechin held a working meeting with PetroVietnam (Vietnam Oil and Gas Group) Chairman of the Board of Directors Nguyen Xuan Son in Moscow, Tuesday.

Shortly before the meeting of the Russian-Vietnamese intergovernmental panel there was a considerable dialogue regarding cooperation between the companies in the region of exploration, production, processing, and distribution in Vietnam, Russia, and third countries. The parties discussed a range of offshore projects in of Russia and Vietnam.

During the negotiations the issues of the delivery of Russian oil to Zung Kuat oil refinery in Vietnam and possible participation in its modernization were considered.

‘PetroVietnam is strategic partner of Rosneft, and we are satisfied with our cooperation under the Memorandum of Understanding signed this May to strengthen cooperation between the two oil and gas companies,’ Igor Sechin said.

Currently Rosneft participates in the projects of gas and gas condensate recovery within two blocks in the shelf area of Vietnam:

06.11 Rosneft Vietnam B.V. owns 35% in the project, is a project operator; initial gas reserves are about 86 billions cubic meters.

5.3/11 Rosneft Vietnam B.V. owns 100% in the project, is a project operator;

The current resource assessment is 38,4 billion cubic meters of gas and 39 million tons of gas condensate.

The Company also owns 32.7 % in the Nam Con Son pipeline.