The Vietnamese company, the largest oil and gas producer in the Southeast Asian country, picks up a 33,3 percent stake in two projects in the Pechora Sea. New joint ventures will be established to follow up project development, a press release from Rosneft informs.
The deal includes the Yuzhno-Russky and Zapadno-Matveevsky prospects, two fields with an estimate total of 367 million tons of oil resources and 64 billion cubic meters of gas.
The establishment of the joint ventures follows an agreement between Rosneft and PetroVietnam reached in November 2013. The two companies have for several years cooperated about offshore projects in Vietnamese waters. From before, Rosneft has offshore Arctic partnerships with ExxonMobil, Eni, Statoil and CNPC.
The PetroVietnam is active also in other parts of the Russian Arctic. As previously reported, the company holds stakes in several projects operated by Russian Zarubezhneft in the Nenets Autonomous Okrug.
