PetroVietnam and Russian energy company Gazprom inked an agreement to jointly develop Nagumanovskoye and Severo-Purovskoye fields in Russia.
Alex Miller, chairman of the Gazprom management committee and Nguyen Quoc Khanh, president and CEO of PetroVietnam Oil and Gas signed the document last week at the St. Petersburg International Economic Forum 2015.
This will also see both parties work together on the Dung Quat oil refinery project, power generation and LNG sectors.
Dung Quat, Vietnam’s only oil refinery, has an annual output of 6.5 million tons.
The Nagumanovskoye field in the Orenburg region has 5.8 Bcm of proven gas reserves and 1683 thousand tons of recoverable condensate reserves and 960 thousand tons of recoverable oil reserves.
The Severo-Purovskoye gas and condensate field in the Yamal-Nenets area has 45.5 Bcm of gas reserves and 6826 thousand tons of recoverable condensate reserves.
Gazpromviet, a joint venture established in 2009 between PetroVietnam and Gazprom hold license for both fields. They also have another joint operating company, Vietgazprom, which is engaged in exploration activities in blocks No. 112 and 129–132 located on the continental shelf of Vietnam.
Last month, the two oil majors’ agreed on terms to drill the first deepwater well offshore Vietnam with depth exceeding 1600m.
PetroVietnam who is currently in the process of taking over Chevron’s three subsidiaries and assets in Vietnam, is similarly looking to collaborate with Azerbaijan and Uzebekistan.
Image: Phung Dinh Thuc, chairman of board of directors, PetroVietnam and Vitaly Markelov, deputy chairman, Gazprom at ceremonial launch of hydrocarbon feedstock production from well No.3 of Nagumanovskoye field / Gazprom
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