Background

Gazprom's main partner in Vietnam is PetroVietnam Group focused on hydrocarbon exploration, production, processing, transportation and marketing.

Vietgazprom, a joint operating company established by Gazprom and PetroVietnam on a parity basis, is engaged in exploration in licensed blocks Nos. 112 and 129–132 located on the continental shelf of Vietnam. The development of block No. 112 resulted in the discovery of the Bao Vang gas field in 2007 and the Bao Den field in 2009.

The Moc Tinh and Hai Thach fields are located within licensed blocks Nos. 05–2 and 05–3 on the shelf of Vietnam. The project operator is the Bien Dong petroleum operating company. Gazprom is represented in the joint venture by Gazprom International, a specialized company for the implementation of oil and gas projects outside Russia.

In 2009, Gazprom and PetroVietnam signed the Agreement on Strategic Partnership providing for, inter alia, joint oil and gas projects in Russia, Vietnam, and third countries.

In 2015, Gazprom and PetroVietnam signed the Agreement on the major terms and conditions of developing the Nagumanovskoye (Orenburg Region) and Severo-Purovskoye (Yamal-Nenets Autonomous Area) fields. Gazpromviet (Gazprom – 51 per cent, PetroVietnam – 49 per cent) holds the development licenses for both fields.

In 2015, PVGAZPROM Natural Gas for Vehicles, a joint Russian-Vietnamese company focused on the use of natural gas as a vehicle fuel, was registered. The joint venture consists of Gazprom International (35.5 per cent), Gazprom Gazomotornoye Toplivo (35.5 per cent), and PETROVIETNAM GAS (29 per cent).

In 2016, Gazprom and PetroVietnam signed the Memorandum of Understanding on the development of new oil and gas projects, the Memorandum of Understanding on power generation, and the Addendum to extend the Cooperation Agreement on personnel training.