On Tuesday afternoon (local time), as part of his official visit to Russia, Vietnamese Prime Minister Phạm Minh Chính visited and held a working session with leading officials of Zarubezhneft, a long - standing and leading partner of Vietnam in the oil and gas sector.
Prime Minister Phạm Minh Chính and Deputy Prime Minister of the Russian Federation Alexander Novak witness the signing of a cooperation agreement between Petrovietnam (PVN) and Zarubezhneft (Russia) on Tuesday. — VNA/VNS Photo Dương Giang
Over the past more than four decades, Zarubezhneft has maintained cooperation with the Vietnam National Industry - Energy Group (Petrovietnam). They have joint ventures, Vietsovpetro in Vietnam and Rusvietpetro in Russia, focusing on geological exploration and oil and gas exploitation.
At the meeting, Zarubezhneft's leaders briefed PM Chính on ongoing cooperative projects in both countries and future directions. They affirmed that both sides have made every effort to implement the documents signed during Party General Secretary Tô Lâm's visit to Russia in May 2025 regarding the extension and expansion of oil and gas exploration and exploitation areas in Russia and Vietnam.
Given the huge potential for bilateral energy cooperation, they proposed expanding collaboration with Vietnamese partners in new areas, including the development of an offshore wind energy program, notably a 1GW offshore wind farm project, and advancing joint investment projects in third countries.
PM Chính stated that energy cooperation remains a strategic pillar of Vietnam - Russia relations. He commended Zarubezhneft for its sustained contributions to joint exploration and production activities in both Vietnam and Russia, especially through cooperation with Petrovietnam. He also commended the relevant parties for finalizing negotiations and signing amended protocols to the intergovernmental agreement regarding Vietsovpetro and Rusvietpetro, as well as an intergovernmental agreement on expanding areas of geological exploration and oil and gas exploitation on Vietnam's continental shelf and within Russia's territory.
Witnessing the signing of specific contracts between enterprises, PM Chính welcomed and valued the parties' efforts in concluding these documents, saying they were concrete evidence of the effective implementation of the amended protocols and intergovernmental agreements in expanding operational areas for oil and gas exploration and production.
Emphasizing the need for tangible products and concrete outcomes, the government leader called on both sides to continue seeking solutions to strengthen cooperation, accelerate implementation, enhance efficiency, and actively engage in the restructuring of the global oil and gas industry.
Regarding proposals to supply oil, gas, and related products to Vietnam on a stable, long - term basis and to develop oil storage infrastructure in the country, PM Chính requested Zarubezhneft to work closely with Petrovietnam and other Vietnamese enterprises to formulate projects in line with Vietnam's legal framework, energy development strategy, and planning, and submit them to competent authorities according to regulations.
He also welcomed Zarubezhneft's proposal to implement an offshore wind energy development program in Vietnam, urging the company and its Russian partners to coordinate closely with Petrovietnam and Vietsovpetro to further refine the proposal for submission to the relevant authorities of both countries for consideration and decision.
PM Chính expressed agreement with and support for Vietnam - Russia oil and gas cooperation in third countries, suggested several potential partner markets, and called on all parties to promptly engage in discussions and expedite the early implementation of such initiatives.
At the meeting, the two sides also exchanged views on specific measures to advance the implementation of their cooperative projects.
Russian Deputy PM Alexander Novak considered energy cooperation a pillar in bilateral relations, with businesses playing a very important role. He highly appreciated the documents signed on this occasion, the development and expansion of oil and gas joint ventures between the two countries, and especially the signing of an agreement between the two governments on cooperation in building a nuclear power plant in Vietnam.
The Deputy PM agreed with PM Chính's opinions and affirmed that he would strive, together with relevant agencies, to continue promoting oil and gas and energy cooperation, contributing to the implementation of the agreement of the high - level leaders of the two countries.
