Prime Minister Phạm Minh Chính (right) had a reception for Zarubezhneft’s General Director Sergei Kudryashov in Hà Nội on November 27. — VNA/VNS Photo

HÀ NỘI — Việt Nam always considers oil and gas cooperation with Russia a cornerstone of their Comprehensive Strategic Partnership, with the decades-long tie-up between Petrovietnam and Zarubezhneft serving as its flagship, said Prime Minister Phạm Minh Chính.

During a reception in Hà Nội on Thursday for Zarubezhneft’s General Director Sergei Kudryashov, PM Chinh thanked Russia for its consistent backing of Việt Nam's struggle for national independence and ongoing development process, saying that joint projects between Petrovietnam and Zarubezhneft not only deliver economic benefits but also foster strategic trust, reinforce energy security, support workforce training, and enhance Việt Nam's technological capacity.

The Vietnamese Government, he said, always pays attention to and backs Vietsovpetro and Rusvietpetro joint ventures, reflected in numerous inter-governmental agreements and protocols facilitating their operations.

He also expressed the Government’s support for Petrovietnam and Zarubezhneft to further study and expand investment activities based on efficiency, harmonised interests, and full compliance with Vietnamese law. He called on both sides to maintain regular discussions, seek measures to further improve the performance of their joint ventures, and promptly settle any issues arising in the spirit of constructiveness and mutual friendship, ensuring the interests of both sides.

Agreeing with the PM’s proposals, Kudryashov expressed sympathy to Việt Nam over recent storm and flood damage.

Reporting on the ongoing cooperation between Zarubezhneft and Petrovietnam, he outlined plans to expand oil and gas projects with Việt Nam, specifically with Petrovietnam, while branching into energy and minerals, with particular interest in establishing an energy hub in Việt Nam.

The PM noted that Vietnamese ministries and agencies are reviewing proposals from Petrovietnam and Zarubezhneft to further facilitate their expansion in both Việt Nam and Russia. He welcomed Zarubezhneft’s intention to join new oil and gas and energy projects beyond those already undertaken within the Vietsovpetro framework.

Stressing that bilateral oil and gas collaboration now spans the full value chain, from exploration and extraction to processing, the host affirmed that Việt Nam always offers all possible support for Russian energy companies, including Zarubezhneft, to operate in the country.

Confident that with determination of both governments and efforts of business community, oil and gas cooperation will continue to grow strongly and bring tangible benefits to their people, the leader urged both sides to actively realise signed agreements and maintain regular working mechanisms to overcome obstacles and accelerate joint projects.

He pressed Zarubezhneft to widen Rusvietpetro’s footprint in Russia, potentially through larger licensed areas, new field acquisitions, and exploration of adjacent blocks in the Nenets region to fully leverage existing infrastructure, technology, and workforce advantages, while improving logistics and tax-fee conditions when necessary. On the Vietnamese side, he urged Vietsovpetro’s better efficiency, reasonable production levels, and aggressive pursuit of new promising blocks.

Additionally, he called for expanded cooperation in liquefied natural gas (LNG), LNG supply chain, and LNG port and storage infrastructure; technology transfer related to depleted-field extraction, deep and complex drilling; and collaboration in renewable energy, hydrogen, and new materials. He also highlighted opportunities for joint training of quality workforce for Việt Nam, and encouraged both sides to explore investment and service cooperation in oil and gas in third countries. — VNA/VNS