The Vietnamese Government always gives the top priority to oil and gas cooperation projects with Russia, said Prime Minister Nguyen Xuan Phuc at a reception for General Director of Zarubezhneft JSC Sergey Ivanovich Kudryashov in Hanoi on December 13, Eurasia Diary reports citing Vietnamese Investment Review. 

The PM described Russia as a reliable partner of Vietnam throughout the history, and welcomed the Russian company’s willingness to cooperate with Vietnam.

Kudryashov recalled his impression about PM Phuc’s visit to Zarubezhneft headquarters during his official visit to Russia in May 2019.

He informed the PM about the good business outcomes of petroleum joint ventures between Zarubezhneft and the Vietnam Oil and Gas Group (PetroVietnam), which are Vietsovpetro in Vietnam and Rusvietpetro in Russia.

Zarubezhneft has been actively promoting key cooperation projects in the field of oil and gas between the two sides, he said.

Kudryashov thanked the Vietnamese Government and PM Phuc for creating favourable conditions for the two joint ventures to operate effectively.

He hoped the Vietnamese Government will offer more incentives for other projects of Zarubezhneft in Vietnam.

PM Phuc hailed the effective cooperation between Vietnam and Zarubezhneft, adding that he will assign the Ministry of Industry and Trade to study some preferential mechanisms for the Russian side in line with Vietnam’s law to ensure mutual benefits.

He also affirmed the Government’s support and optimal conditions for Zarubezhneft and PetroVietnam to grow strongly.