Vietnam and Russia promote cooperation in oil and gas sector

Deputy Minister of Industry and Trade Nguyen Hoang Long had a working session with Russia’s Deputy Minister of Energy Roman Anatolievich Marshavin, during the former's working visit to Russia from April 23-25.

During the working session, the two sides reviewed and finalized a protocols amending the Intergovernmental Agreement on the Vietnam-Russia Joint Venture Vietsovpetro and Rusvietpetro Company Limited, and the Intergovernmental Agreement on expanding the area of ​​operation in the field of geological exploration and oil and gas exploitation. These agreements are expected to be signed during the upcoming official visit of a high-level delegation of Vietnam to Russia in early May.

Both Deputy Ministers highly praised the tireless efforts of experts from both countries in preparing  the draft documents within an extremely tight timeframe. The signing of these agreements will demonstrate the strong political commitment from both nations to deepening their energy cooperation.

Mr. Marshavin emphasized that building upon the achievements and strong political commitment from both countries' leadership, these new Protocols and Agreements will usher in a new phase of deeper and broader cooperation between Vietnam and Russia in the oil and gas sector.

Both sides expressed their hopes that more effective collaborative projects would soon be implemented, contributing to energy security and sustainable development for both nations.

Within the framework of the working visit, Deputy Minister Nguyen Hoang Long also held working meetings with the leadership of Zarubezhneft Group and Rosatom Group (Russia) to discuss and explore opportunities for expanding cooperation into new areas such as LNG, renewable energy, and nuclear power.