During a reception in Hanoi on November 27 for Zarubezhneft’s General Director Sergei Kudryashov, PM Pham Minh Chinh thanked Russia for its consistent backing of Vietnam’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 Vietnam’s technological capacity.
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PM Pham Minh Chinh (right) and Zarubezhneft’s General Director Sergei Kudryashov at their meeting in Hanoi on November 27 |
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, harmonized 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 Vietnam 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 Vietnam, specifically with Petrovietnam, while branching into energy and minerals, with particular interest in establishing an energy hub in Vietnam.
The PM noted that Vietnamese ministries and agencies are reviewing proposals from Petrovietnam and Zarubezhneft to further facilitate their expansion in both Vietnam 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 Vietnam 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 realize signed agreements and maintain regular working mechanisms to overcome obstacles and accelerate joint projects.
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At the reception in Hanoi on November 27, 2025 |
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 Vietnam, and encouraged both sides to explore investment and service cooperation in oil and gas in third countries.
Source: VNA