PetroVietnam Chairman of Board of Directors Nguyen Xuan Son: Full conviction for effective oil and gas cooperation between Russia and Vietnam [27/11/2014]

At the meeting with Mr. S.I. Kudryasov, CEO of Zarubezhneft, the oldest traditional strategic partner of PetroVietnam, Mr. Nguyen Xuan Son was pleased to announce the support of the Prime Ministers from the two countries for the oil and gas cooperation activities in the recent meeting on the sidelines of the ASEAN Summit in Myanmar.


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Mr. Nguyen Xuan Son and the working group meeting with CEO of Zarubezhneft SI Kudryasov


In Vietnam, in addition to Vietsovpetro, Zarubezhneft also participated in the oil and gas contracts of Blocks 04-1, 04-3, 09-3, 09-3/12, 12/11, 42 offshore continental shelf of Vietnam. In Russian Federation, PetroVietnam and Zarubezhneft via Rusvietpetro have been carrying out the activities for exploration and production development at 13 oil fields of 4 blocks belonging to Nhenhexky autonomous region.


Currently, the Ministries and branches of the two countries are preparing the final procedures for the important documents on oil and gas cooperation to be signed officially during the visit to the Russian Federation of the General Secretary of the Communist Party of Vietnam, including the proposal for mineral exploitation tax exemption for Rusvietpetro until the expiry of validity period of the oil production project from the oil fields of Nhenhexky.


The two parties also discussed on the preparation for welcoming General Secretary Nguyen Phu Trong to Zarubezhneft headquarter, expressing deep concern of the leaders of the Party and State of Vietnam to the close relationship between Petrovietnam and Zarubezhneft.


At a meeting with Mr. A.B. Miller, CEO of Gazprom, Mr. Nguyen Xuan Son conveyed the positive assessment of Vietnam’s Prime Minister Nguyen Tan Dung to Gazprom and Mr. Miller on the efforts to cooperate with Petrovietnam in particular and Vietnam in general in recent years and affirmed to create favorable conditions and incentives for good result of the investment into Vietnam by Gazprom to be surely obtained because it suited to the two governments’ desire.


Tin tưởng chắc chắn vào hiệu quả hợp tác  dầu khí Nga - Việt

Mr. A.B. Miller, CEO of Gazprom pleased to welcome PetroVietnamChairman of Board of Directors Nguyen Xuan Son


Mr. Nguyen Xuan Son thanked Mr. Miller for Gazprom's determination to overcome all difficulties to implement oil and gas contracts in the recent period and committed to doing the best to complete the important documents that PetroVietnam and Gazprom have discussed, carefully prepared to be timely signed by the two parties during the upcoming visit to Russia of Vietnam’s Communist Party General Secretary Nguyen Phu Trong, such as the Intergovernmental Agreement between the Government of the Socialist Republic of Vietnam and the Government of the Russian Federation; Agreement on Termsheet between PetroVietnam and Gazprom Neft (subsidiary of Gazprom) regarding cooperation in operation and upgrading, expanding Dung Quat Oil Refinery; memorandum on the establishment of a joint venture for exploration, production of Dolghinskoe field (Russian Federation) between PetroVietnam and Gazprom Neft; framework agreement on gas pricing mechanism of Gazpromviet between PetroVietnam and Gazprom and documents relating to the establishment of a joint venture for the production of compressed air and natural gas used as motor fuel in Vietnam where Vietnam and Gazprom account for 29% and 71% respectively.


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The exchange between the two sides at Gazprom headquarter in Moscow


Chairman Nguyen Xuan Son expressed that Petrovietnam always considered Gazprom as strategic alliance, firmly believed in the success and committed to ensuring the effectiveness of the projects invested into Vietnam by Gazprom, and hoped that the projects invested into Russia by PetroVietnam achieved such goals. He also invited Gazprom to participate in the field of distribution of oil products in Vietnam (PetroVietnam Oil Corporation - PVOil) and facilitated PVTrans to transport crude oil for Gazprom; join with PetroVietnam to invest in oil and gas projects. He also proposed Gazprom to introduce so that PetroVietnam may soon participate in a potential oil and gas exploration and production project of Gazprom on the mainland.


Mr. A.B. Miller acclaimed the ongoing projects of PetroVietnam in Russia and advocated PetroVietnam to continue finding new opportunities in the future. He also pledged to create all necessary conditions for the joint projects of PetroVietnam and Gazprom to operate effectively and endeavoured to support the proposals of PetroVietnam such as exemption for mineral exploitation tax, income tax; facilitating expansion of operation area of Rusvietpetro and Gazpromviet on the territory of the Russian Federation, etc.


Mr. A.B. Miller also assigned CEO of Gazprom Neft A.V. Dyukov to learn thoroughly the oil and gas market of Vietnam for regular and timely reporting and proposal because it was important market and partner in the development strategy of Gazprom. He also hoped in the coming days, the agreement documents would be finalized for signature during the upcoming visit to Russia of the General Secretary Nguyen Phu Trong.


On the same day, in the intimate party to welcome PetroVietnam working group, CEO of Gazprom Neft A.V. Dyukov and Chairman Nguyen Xuan Son discussed details of cooperation projects, contents and specific steps of the process to prepare for signing documents between the two parties; plans and appropriate steps to effectively implement the upcoming important projects; the two parties also shared openly about the common interest to oil and gas industry market of the two countries and the world.


Gazprom Neft is one of the leading oil and gas companies of Russia, under the Gazprom Group. Gazprom Neft owns more than 70 licenses for oil production in Russia with the output of nearly 60 million tons in 2012 and five oil refineries with the capacity of 46 million tons per year.


The comprehensive strategic partnership of Vietnam and Russia is increasingly being strengthened and developed, to which the energy cooperation in general and the oil and gas cooperation in particular play very important role. The energycooperation between the two countries is not only of economic significance, but also the vivid expression of the good relationship between Vietnam and Russia.


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