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Gazprom, Vietnam join forces

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Published: Dec. 16, 2009 at 11:30 AM
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MOSCOW, Dec. 16 (UPI) -- Russian gas monopoly Gazprom signed an agreement in Moscow to establish a joint venture in Vietnam to exploit offshore reserves and handle other developments.

Alexei Miller, the chairman of Gazprom, signed a strategic partnership agreement with Phung Dinh Thuc, the president and chief executive of Petrovietnam State Oil and Gas Corp.

The strategic agreement envisions "the possible engagement" in the Nagumanovskoye oil, gas and condensate field in Russia and exploration and development of resources in the Republic of Sakha, Eastern Siberia and the Far East, the Russian gas giant announced.

Gazprom said the agreement envisions "intensive cooperation" between the two energy companies in gas projects in Russia, Vietnam and other countries through Gazpromviet, a joint venture under development.

The Nagumanovskoye field in Russia's Orenburg Oblast was mentioned as the primary focus of the cooperative agreement.

The two corporate leaders also signed amendments to contracts for oil and gas contracts in offshore blocks in Vietnam.

Topics: Alexei Miller
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