Russia to continued enhanced co-operation in petroleum exploration

Minister of Industry and Trade Tran Tuan Anh and Russian Deputy Minister of Energy Yuri Sen-chiu-rin signed an inter-governmental co-operation agreement on geological and petroleum exploration in Russia and a protocol amending the agreement on further geological and petroleum exploration of the Vietsovpetro joint venture. The development underlines the mutual strong support and priority of the two countries in developing the petroleum sector. Vietsovpetro has so far extracted 220 million tonnes of crude oil, contributing nearly 47 billion US dollar to Vietnam’s state budget. The Rusvietpetro joint venture is conducting exploration activities in 13 oil fields in northern Russia’s Nhenhexky autonomous zone.