OREANDA-NEWS. September 28, 2009. The delegation of JSC “Zarubezhneft” headed by the General Director N.G. Brunich made a working trip to Vietnam. In Hanoi the representatives of JSC “Zarubezhneft” were received by a member of the Politbureau, the permanent member of the Secretariat of the Central Committee of the Vietnamese Communist Party Truong Tan Sang, Deputy Prime Minister of Vietnam and Minister of Foreign Affairs Pham Gia Khiem, Minister of Industry and trade of the Socialist Republic of Vietnam Vu Huy Hoang.

The heads of the Party and the country highly evaluated the level of cooperation of the two state companies within the frame of JV “Vietsovpetro” and also greeted their efforts to expand the area of activity offshore Vietnam. It was noted that JSC “Zarubezhneft” and “Petrovietnam” don’t stop where they stand but look for new ways of interaction particularly in third countries. Also the Vietnamese leaders noted with special pleasure the successful progress of the Joint Venture “Rusvietpetro” - that is the project of JSC “Zarubezhneft” and “Petrovietnam” on the territory of Russia - and expressed interest in widening and strengthening of this cooperation.

During the visit the negotiations with the management of “Petrovietnam” were held. As a result in the presence of the Deputy Minister of Industry and trade of SRV Bui Xuan Khu the parties signed two Protocols of intent on new projects of developing cooperation offshore Vietnam and operations in Cuba.

The heads of “Zarubezhneft” and “Petrovietnam” N.G. Brunich and Phung Dinh Thuc also signed the Minutes of extraordinary meeting of JSC “Rusvietpetro”.

“Zarubezhneft” was handed over the Investment Certificate of the Ministry of Industry and trade of SRV for realization of Petroleum Contract regarding Block 04-3 of the continental shelf of SRV which had been signed on 26 of July of this year between JSC “Zarubezhneft” (49% share) and “Petrovietnam” (51% share).

In Ho Chi Minh City the meeting of the delegation from JSC “Zarubezhneft” and the management of JV “Vietsovpetro” was held. During this meeting the joint venture’s results in the current year were analyzed and the plans on 2010 year were discussed.

One of the main subjects that were discussed during the visit was the beginning of operation of the SEFDR “Murmanskay” in the zone of activity of JV “Vietsovpetro”. During the short period since the termination of the rental contract of the SEFDR “Murmanskay” which were ineffective for FSUE “Arktikmorneftegazrazvedka”, the jack-up rig was repaired and delivered to the Vietnamese port Vung Tau. During the visit the parties signed the rental contract for the jack-up rig by JV “Vietsovpetro”. It was noted a huge historic significance of this event as it would be the first time after a long break that a domestic drill unit used in the Russian project abroad.

The meetings and negotiations passed in constructive, businesslike way and friendly atmosphere. The results of the visit once more proved the interest of both parties in longstanding and mutually beneficial cooperation and confirmed that joint projects of “Zarubezhneft” and “Petrovietnam” in Vietnam, Russia and also in third countries have good perspectives and large production potential that is doubtless profitable for both countries.