Russian-Vietnamese joint venture won Nenets AO tender

Illustration: drilling on the tundra

In a joint bid with the Vietnamese company PetroVietnam, state-owned Russian oil company Zarubezhneft has won the licenses to 13 oil fields in the Nenets Autonomous Okrug.

The Russian-Vietnamese bid won in competition with a bid from oil company Rosneft, sources in the Nenets AO administration confirms to newspaper Vedomosti.

The Zarubezhneft company confirms that it has won the tender and that fields will be developed jointly with the Vietnamese company.

The 13 fields have estimated reserves of 78 million tons of oil.