Background

Vietnam’s PetroVietnam Group is focused on hydrocarbon exploration, production, processing, transportation and marketing. Gazprom and PetroVietnam collaborate under the Agreement on strategic cooperation.

Vietgazprom, a joint operating company established by Gazprom and PetroVietnam on a parity basis, is engaged in exploration in licensed blocks Nos. 111/04, 112, 113 and 129–132 located on the continental shelf of Vietnam. Gazprom is represented in the joint venture by Gazprom EP International B.V., a specialized company for the implementation of hydrocarbon prospecting, exploration and development projects outside Russia.

Since 2013, Gazprom EP International B.V. and PetroVietnam have been engaged in commercial gas and condensate production from the Moc Tinh and Hai Thach fields offshore Vietnam.

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 EP International B.V. (35.5 per cent), Gazprom Gazomotornoye Toplivo (35.5 per cent), and PETROVIETNAM GAS (29 per cent).