Rosneft, PetroVietnam to Work Together in Oil, Gas Sector

Rosneft and PetroVietnam signed a Memorandum of Understanding (MOU) in Sochi, Russia to strengthen cooperation between the two oil and gas companies.

By signing the deal the two parties intend to expand their cooperation in upstream and downstream segments of the oil and gas industry in Vietnam, Russia and third countries.

The Russian firm entered Vietnam market through TNK-BP’s subsidiary, TNK Vietnam, which holds 35% equity ownership in and is the Operator of Block 06.1 and 32,67% shares in the Nam Con Son Pipeline that transports gas and condensate from offshore blocks to Dinh Co Terminal and to Phu My Power Complex for electricity and fertilizers production.