Russia, Vietnam to expand hydrocarbon exploration, production on Vietnamese shelf
MOSCOW. June 29 (Interfax) - Russia and Vietnam have agreed to deepen cooperation and expand the zone for exploring and producing oil and gas on Vietnam's continental shelf in strict accordance with the UN 1982 Sea Convention, according to a joint statement by Russian President Vladimir Putin and Vietnamese President Tran Dai Quang.
"A positive assessment was given for the implementation of joint projects in the oil and gas sector. The sides expressed their intention to create favorable work conditions in Russia and Vietnam for the specialized Russian and Vietnamese companies, such as Gazprom , Zarubezhneft, Rosneft and PetroVietnam, as well as to begin cooperating in promising areas, including oil refining, LNG supplies to Vietnam and the production and sale of gas motor fuel on the country's market. An agreement was reached to deepen cooperation and expand the zone for exploring and producing oil and gas on Vietnam's continental shelf in strict accordance with the 1982 UN Sea Convention," the statement said.