The Cabinet of Ministers Proposed to Extend the Work of the Vietsovpetro Joint Venture at a Block in Vietnam for Three Years
The Ministry of Energy of the Russian Federation was instructed to conduct negotiations with the Vietnamese side and sign a protocol on introducing relevant changes on behalf of the Russian government
The Government of the Russian Federation approved a protocol on amending the intergovernmental agreement between Russia and Vietnam on the work of the joint venture Vietsovpetro with the participation of Zarubezhneft on the Vietnamese shelf. The corresponding order, signed by Russian Prime Minister Mikhail Mishustin, has been published.
In particular, it is proposed to amend the agreement by extending the operation of the joint venture at block 09-1 from December 31, 2030 to December 31, 2033.
The Ministry of Energy of the Russian Federation has been instructed to conduct negotiations with the Vietnamese side and sign a protocol on introducing appropriate changes on behalf of the Russian government.
The Vietsovpetro joint venture was established in 1981 by the Vietnamese state oil and gas corporation Petrovietnam and the Russian company Zarubezhneft, which previously reported that it expects to extend the operation of the joint venture until at least 2045 and plans to enter new projects on the Vietnamese shelf.
