Gazprom Neft, PetroVietnam explore Pechora Sea cooperation

Gazprom Neft, PetroVietnam explore Pechora Sea cooperation

ST. PETERSBURG, Russia -- Gazprom Neft has signed a number of agreements with Vietnamese companies aimed at developing cooperation between Russia and Vietnam. The documents were signed in the presence of Vladimir Putin and the General Secretary of the Communist Party of Vietnam, Nguyen Phu Trong.

Alexander Dyukov, chairman of Gazprom Neft's Management Board, and Nguyen Xuan Son, chairman of the Board of Directors of PetroVietnam, signed an agreement to start exclusive talks on possible cooperation in the exploration and development of Dolginskoye field on the Pechora Sea shelf.

Before the end of May 2015 the two parties are expected to sign an operating agreement and outline terms for the creation of a special company for the project, in which Gazprom Neft will be a majority stakeholder.

PetroVietnam will be given access to all relevant information on Dolginskoye field, and Gazprom Neft will refrain from entering into any discussions with other third parties on possible collaboration on this project over a period of six months.

Gazprom Neft and Binh Son Refining and Petrochemical, which owns and manages the Vietnamese Dung Quat oil refinery, also signed an agreement on the long-term maintenance of oil refineries.