Vietnam, Russia seek to boost oil and gas cooperation

14:01 | 23/02/2018 Industry

Deputy Prime Minister Trinh Dinh Dung has spoken highly of the oil and gas cooperation between Vietnam and Russia over the past few years, hailing this as one of the key and most effective pillars in their bilateral relations, generating a huge source of revenue for the budget of each country.

At the reception - Photo: VGP

The deputy PM made the remark while hosting a reception for Sergei Ivanovich Kudryasov, General Director of Russia’s Zarubezhneft JSC, in Hanoi on January 25.

He stated that the cooperation in oil and gas exploration and exploitation between the Vietnam National Oil and Gas Group (PVN), other Vietnamese oil and gas enterprises, and Zarubezhneft has significantly contributed to strengthening the Vietnam-Russia strategic partnership, thus bringing huge economic benefits to both sides.

The Vietnamese Government always encourages and creates favourable conditions for the enhancement of cooperation between Vietnamese and Russian oil and gas companies, Deputy PM Dung said, asking Zarubezhneft to work closely with the PVN in order to seek measures to reduce costs and improve the operational efficiency of Vietsovpetro and Rusvietpetro joint ventures.

Thanking the Vietnamese and Russian Governments for their timely directions in removing any difficulties for oil and gas ventures between the two countries, Zarubezhneft General Director Sergei Ivanovich Kudryasov urged the Vietnamese Government to continue directing the relevant ministries and sectors to remove a number of existing obstacles.

Recognising this recommendation, Deputy PM Dung assigned the Ministry of Industry and Trade and the PVN to work closely with Zarubezhneft and other agencies of both countries in order to settle any difficulties, in the spirit of creating favorable conditions for the two sides’ oil and gas businesses to boost their cooperation.

Theo NDO