Prime Minister Pham Minh Chinh urges Zarubezhneft to boost energy cooperation with Viet Nam

The Vietnamese Government chief made the suggestion during a working session with leaders of Zarubezhneft, a long-standing and leading partner of Viet Nam in the oil and gas sector, as part of his official visit to Russia.

Also attending the meeting were Russian Deputy Prime Minister Alexander Novak, Vietnamese Deputy Prime Minister Bui Thanh Son, and members of the official delegation.

As one of Viet Nam's leading partners in the oil and gas sector, Zarubezhneft has maintained over four decades of cooperation with Petrovietnam through joint ventures such as Vietsovpetro in Viet Nam and Rusvietpetro in Russia, focusing on geological exploration and hydrocarbon production.

Prime Minister Pham affirmed that energy cooperation remains a strategic pillar of Viet Nam–Russia relations, describing it as a partnership with a "century-long vision" and long-term strategic importance. He commended Zarubezhneft for its significant contributions to joint oil and gas exploration and production activities in both countries.

The Prime Minister also praised relevant parties for finalizing and signing amended protocols to intergovernmental agreements governing Vietsovpetro and Rusvietpetro, along with a new agreement to expand geological exploration and oil and gas exploitation on Viet Nam's continental shelf and within Russian territory.

He also welcomed the proposal to develop offshore wind energy in Viet Nam, requesting closer coordination between Russian partners, Petrovietnam, and Vietsovpetro to refine the plan for consideration by both countries' authorities.

Expressing support for expanding cooperation into third-country markets, Pham suggested several potential partners and called on all sides to accelerate discussions and early implementation.

In reply, Zarubezhneft leaders briefed the Prime Minister on ongoing projects in both countries and outlined future cooperation plans. They highlighted efforts to implement agreements reached during the May 2025 visit to Russia by General Secretary To Lam, particularly those related to extending project timelines and expanding oil and gas exploration areas in both countries.

Recognizing the vast potential for bilateral energy cooperation, Zarubezhneft proposed expanding collaboration into new areas, including the development of an offshore wind energy program, notably a 1GW offshore wind farm project, as well as joint investment initiatives in third countries.

Deputy Prime Minister Alexander Novak emphasized that energy remains a cornerstone of bilateral relations, highlighting the vital role of businesses. He praised the agreements signed on this occasion, the expansion of joint ventures, and particularly the intergovernmental agreement on construction of the first nuclear power plant in Viet Nam.

Witnessing the signing of specific contracts between enterprises, Prime Minister Pham welcomed these developments as concrete steps toward effectively implementing the amended agreements and expanding operational areas for oil and gas exploration and production./.