OREANDA-NEWS. May 20, 2013. OJSC Oil Company Rosneft (Rosneft) and Vietnam Oil and Gas Corporation “PetroVietnam” (PetroVietnam) signed a Memorandum of Understanding (MOU) in Sochi to strengthen cooperation between the two oil and gas companies.

The MOU – signed by Rosneft President and Chairman of the Management Board Igor Sechin and PetroVietnam Chairman of the Board of Directors Phung Dinh Thuc in the presence of President of Russia Vladimir Putin and Vietnam’s Prime Minister Nguyen Tan Dung – acknowledges both parties’ intention to expand their cooperation in upstream and downstream segments of the oil and gas industry in Vietnam, Russia and third countries.

Commenting on the signing, Igor Sechin said: “We are happy to cooperate with PetroVietnam across different facets of the petroleum business in both Vietnam and Russia, and support both parties’ active work to fulfil our respective objectives for growth”.