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VN, Russia sign oil, gas exploration agreement

Update: June, 18/2014 - 08:33

The MoU was inked by General Director of the Vietnam National Oil and Gas Group (PetroVietnam) Do Van Hau and General Director of Russia's Zarubezhneft Oil Company Alexander Kudasov in Moscow on June 16.— Photo PVN

MOSCOW (VNS) — Viet Nam and Russia have signed a Memorandum of Understanding (MoU) on the possibility of cooperating in a joint seismic research at Lots 125 and 126 in the Phu Khanh basin in Viet Nam's continental shelf.

The MoU was inked by General Director of the Vietnam National Oil and Gas Group (PetroVietnam) Do Van Hau and General Director of Russia's Zarubezhneft Oil Company Alexander Kudasov in Moscow on Monday on the sidelines of the 21st World Petroleum Conference.

The June 15-19 conference is drawing the participation of about 4,000 delegates, including 30 ministers and 400 CEOs and heads of industrial organisations from 80 countries.

The Vietnamese delegation is led by Minister of Industry and Trade Vu Huy Hoang.

Following the signing ceremony, the Vietnamese officials had a working session with Zarubezhneft Company General Director Alexander Kudasov, and visited a PetroVietnam pavilion at the 21st World Oil Exhibition.

Phu Khanh is a narrow, elongated basin extending from 11.5 to 14oN off the coast of central Viet Nam. — VNS

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