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Gazprom and Petrovietnam sign Sci-Tech Cooperation agreement

Friday, Nov 23, 2012

Orenburg hosted the fifth meeting of the Joint Coordinating Committee (JCC) between Gazprom and Petrovietnam State Oil and Gas Corporation as part of the execution of the Strategic Partnership Agreement signed by the companies.

The meeting was held by the JCC Co-Chairmen – Vitaly Markelov, Deputy Chairman of the Gazprom Management Committee and Nguyen Vu Truong Son, Vice President of Petrovietnam.

The meeting participants discussed the current cooperation issues concerning hydrocarbons development offshore Vietnam and in the Nagumanovskoye and Severo-Purovskoye fields in Russia. The parties expressed their contentment with the Vietgazprom joint operating company and Gazpromviet joint venture's performance in 2012.

Special attention was paid to the prospects for Russian liquefied natural gas (LNG) supplies from Vladivostok to Vietnam, as well as the possibility of establishing a joint venture for the NGV fuel use in the Republic. The meeting also addressed the issues of further cooperation in career development and staff retraining.

During the meeting, the companies inked a Sci-Tech Cooperation Agreement providing for the development of joint innovative activities in the Russian and international energy markets. In particular, the parties will extend cooperation in the spheres of gas exploration, production, transmission, underground storage , processing, ecology, hydrocarbons distribution and utilization, etc.

The meeting resulted in compiling an action plan for the JCC and the Gazprom and Petrovietnam Joint Working Group for 2013. The parties achieved agreements to intensify joint development of hydrocarbon fields in Russia and offshore Vietnam.

Source: Gazprom

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