OREANDA-NEWS. General Director of "Zarubezhneft" JSC Sergey Kudryashov made a working trip to Vietnam, where he met with the Prime Minister of the Socialist Republic of Vietnam Nguen Tan Dung, Chairman of the Management Board of "Petrovietnam" National Oil & Gas Group Phung Dinh Thuc, the head of "Petrovietnam" OGC Do Van Hau and the head of "Vietsovpetro" JV Nguyen Huu Tuyen.

During the trip on March 29 Sergey Kudryashov took part in the ceremony of signing the Production Sharing Agreement between "Vietsovpetro" JV and Petrovietnam`s subsidiary PVEP on development the gas Block 42 offshore Vietnam. According to the PSA PVEP owns 51% in the project, "Vietsovpetro" JV – 49%.

Initial phase of the project includes processing and interpretation of 3D seismic survey over an area of 500 km2 and location of the first exploratory well. Preliminary seismic data indicate presence of prospective structures at the Block 42.

Signing of PSA on Block 42 was the result of the joint work of the project`s participators "Zarubezhneft" JSC and "Petrovietnam" OGC on expanding "Vietsovpetro" JV`s area of activity and increasing the resource base by developing new blocks.