Vietnam ready to expand Rusvietpetro ops in 3rd countries
NARYAN-MAR. July 30 (Interfax) - Vietnam is open to the possibility of expanding operations by Zarubezhneft-PetroVietnam joint venture Rusvietpetro into third countries, Vietnamese President Truong Tan Sang told the press.
"Russia and Vietnam have set up the joint venture Rusvietpetro. During a meeting with the president of Russia, Vladimir Putin, we agreed that the geographical frameworks of the joint venture will not be limited in possibility to the Nenets Autonomous District, but will expand into other regions of vast Russia and to third countries," the Vietnamese president said.
Zarubezhneft holds 51% in Rusvietpetro; Petrovietnam's stake is 49%. At present, the company is only working on a project for the opening of deposits in the Central Khoreiversky elevation in the district.
Zarubezhneft and PetroVietnam own another joint venture called Vietsovpetro, in which the stakes are flipped - Zarubezhneft 49% and PetroVietnam 51%. This outfit is involved in the opening not only of deposits on the Vietnamese shelf, but is also attempting to carry out geological surveying projects in a number of third countries. However, in 2010-2011, Vietsovpetro pulled out of projects in Burma and Tunis, and has declined to operate in Angola.
