Belorusneft and PetroVietnam Signed Memorandum on Cooperation
OREANDA-NEWS. October 24, 2008. Production association Belorusneft and Vietnamese PetroVietnam Corporation have signed the memorandum on cooperation during an official visit of the Vietnamese delegation led by President of PetroVietnam Tran Ngoc Canh to Belarus.
The memorandum specifies the regulations of the framework agreement “On joint activity in oil-gas and petrochemical branches”. The framework agreement was concluded by Belneftekhim Concern and PetroVietnam Corporation in early April this year. In the future, the cooperation will be developed on the analogy of the oil extraction projects carried out by Belarus in Venezuela.
Representatives of the Vietnamese corporation visited production facilities of production association Belorusneft, Belarusian Gas Processing Plant and a drilling site of the Rechitsa oil field.
Founded in 1966, production association Belorusneft is part of Belarusian petrochemical concern Belneftekhim. It prospects and develops oil fields, drills wells, extracts oil and associated petroleum gas. The production association unites Belarusian Gas Processing Plant and BelNIPIneft Research Institute.