September 22, 2019 06:54

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Russian scholar: unstoppable Vietnam-Russia oil and gas cooperation for mutual benefit

19:59 | 19/08/2019

“Russian Spring” web page has a commentary by scholar Elena Niculina, Far East Institute of the Russian Academy of Sciences entitled “Rosneft and Gazprom on their active exploration in Vietnam” analyzing bilateral cooperation in oil and gas exploration and exploitation on Vietnam’s continental shelf and Russian territory.

russian scholar unstoppable vietnam russia oil and gas cooperation for mutual benefit

The author recalled landmarks in bilateral oil and gas cooperation since 1981 when Vietsovpetro joint venture was established between PetroVietnam and Zarubezhneft.

Since 2000, Gazprom, one of world leading natural gas exploitation companies, has been present in Vietnam. In September 2007, Rusvietpetro joint venture was established and it began exploring oil in northern Russia in 2009.

The same year, Gazpromviet LLC was set up and to develop oil and gas projects in Russia, Vietnam and third countries.

The author wrote that Russian companies’ exploration and production of oil and gas in some areas of Vietnam’s continental shelf in the East Sea make China “unsatisfied”, but emphasized that Vietnam will resolutely protect its legitimate rights and benefits while long-term and mutual benefit cooperation between Vietnam and Russia in the industry is unstoppable.

Source: VNA