OREANDA-NEWS. May 21, 2010. During his official visit to Moscow for the celebration of the 65th Anniversary of the Victory in the Great Patriotic War, on the 9th of May, 2010 President of Vietnam Nguyen Minh Triet visited JSC “Zarubezhneft”, where he met and talked with the Company’s top management. Vietnamese delegation also included Bui Dinh Dinh, Ambassador of the Socialict Republic of Vietnam in the Russian Federation, Nguyen Chi Tam, Minister- Counsellor of the Ambassy, representatives of the Vietnam Oil and Gas National Group (Petrovietnam), including Tran Ngoc Son, Petrovietnam’s Chief Representative in the Russian Federation and CIS, Cao My Loi, First Deputy General Director of Zarubezhneft’s and Petrovietnam’s Joint Company “Rusvietpetro”, and some other persons.

N.G. Brunich, Head of the JSC “Zarubezhneft”, told the Vietnamese President about the Company’s activities and introduced the exposition of stands recounting the JV “Vietsovpetro” long history of development: this summer the Joint Venture celebrates it’s 29th anniversary. After that President of the SRV, General Director of “Zarubezhneft” and other top managers of the Company held a conversation, in which the parties discussed cooperation perspectives between Zarubezhneft and Petrovietnam in oil production.

In his complimentary speech, President of Vietnam noted that the Vietnamese people is grateful to the Russian people for the help in struggle against foreign invadors, for the support in establishing national industry base and for today’s cooperation with Vietnam, a perfect example of which is the JV “Vietsovpetro”. Nguyen Minh Triet highly appreciated Vietsovpetro’s activities, the contribution of Russian experts to the foundation of the oil and gas industry in Vietnam and in manpower training for the industry. He called for even more active cooperation in the offshore development and for participation in further improving of bilateral cooperation mechanism to make it more dynamic.

The President positively talked about the establishing of the new Joint Company “Rusvietpetro” to carry out operations in the Russian North, and wished the oilmen to continue expanding cooperation.

JSC “Zarubezhneft” General Director N.G. Brunich, in turn, stressed that JV “Vietsovpetro” and JC “Rusvietpetro” have good prospects.

“In July the JV “Vietsovpetro” Council will agree on all necessary documents for reorganising Vietsovpetro into a limited liability company with two participants: JSC “Zarubezhneft” and Vietnam National Oil and Gas Group (Petrovietnam). With the Vietnamese government approval upon the documents, we expect the contract for the new company – JV “Vietsovpetro” successor – to be signed at the end of the year, during the Russian President Medvedev’s visit to Vietnam” – Mr. Brunich said. He pointed out that a new promising sector of oil reservoir was discovered at the “White Tiger” oil-field in 2009. The Vietsovpetro’s annual oil production is supposed to settle at the level of 6.5 million tons.

JSC “Zarubezhneft” General Director N.G. Brunich assured President of Vietnam that Russian and Vietnamese oilmen won’t rest on their laurels and are looking forward to new promising projects in Russia, Vietnam and third countries. “We are not going to stop at one project – the oil-field development at the Central Khoreiver Uplift, our Joint Company “Rusvietpetro” is planning to bid for other blocks” - Mr. Brunich said.