ADVERTISEMENT

Gazprom to develop four new sites in Vietnam

Energy Trade

Gazprom has reached an agreement with Vietnam’s state oil and gas company Petrovietnam to develop four new deposits on the Vietnamese shelf, the state-controlled Russian natural gas giant said Friday.

“The agreement envisions prospecting work and further development of four new blocks on the Vietnamese shelf. Vietgazprom will be the project operator,” the company said. The agreement also envisions the establishment of a new joint venture, Gazpromviet, to ensure the companies’ participation in oil and gas projects in Russia and abroad.

A Gazprom delegation led by CEO Alexei Miller arrived in Vietnam on Friday. Miller met with the Vietnamese president and prime minister, and with Petrovietnam officials to discuss further cooperation and the implementation of Gazprom’s projects in Vietnam. Vietgazprom, a joint venture set up by Gazprom and Petrovietnam, is conducting prospecting work on the country’s continental shelf in line with a 2000 contract envisioning the exploration, production and sale of hydrocarbons.

Gazprom and Petrovietnam signed a cooperation agreement in November 2006, in line with which the companies cooperate in prospecting and development of oil and gas fields, as well as transportation and sales, and construction and maintenance of oil and gas pipelines and other infrastructure. The document also foresees the companies’ interaction in projects in third countries. (rian.ru)

ADVERTISEMENT

Consumer, business confidence reach 2-year high - GKI Analysis

Consumer, business confidence reach 2-year high - GKI

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.