PM welcomes General Director of Russian oil giant

September 26, 2015 | 10:36

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PM Nguyen Tan Dung spoke highly of the effectiveness of joint oil and gas projects between Viet Nam and Russia while meeting with General Director Sergey Kudryashov of Russian Zarubezhneft company in Ha Noi on September 25.

PM Nguyen Tan Dung welcomes General Director Sergey Kudryashov of Russian Zarubezhneft company, Ha Noi, September 25, 2015. Photo: VGP.

The Vietnamese Government chief said the bilateral oil and gas cooperation has made significant contributions to the comprehensive strategic partnership between the two countries.

The Government of Viet Nam backs and will continue creating favorable conditions for the bilateral ties in this sector in general and cooperation between Petro Viet Nam and Zarubezneft in particular, he affirmed.

PM Dung voiced his support for the proposal to further expand joint exploitation activities in both countries. He added that he has tasked the competent agencies of Viet Nam to work with Russian counterparts to conclude an inter-Governmental agreement soon to pave the way for accelerating oil and gas cooperation.

He took the occasion to extend thanks to the support of Russian President Putin and PM Medvedev for bilateral cooperation in this sector.

Mr. Sergey Kudryashov said his compay expects long –term cooperation with Petro Viet Nam, including the expansion of exploration activities in Viet Nam’s continental shelf as well as in Russia.

He said that Rusvietpetro joint venture company has started production at oil fields in Northern Russia with an aggregate output of 8.78 million tons worth nearly US$4.6 billion in revenue since September 2010.

The joint venture is expected to launch production at new oil fields to double the current output in the time to come, Mr. Sergey said.

Noticeably, the Russian Government is ready to offer tax reduction for the joint venture with total amount of US$1.2 billion.

VGP

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