Gazprom and PetroVietnam signed the agreement on basic conditions of development of Severo-Purovskoye field

Within the St. Petersburg International Economic Forum the CEO of the company "Gazprom" Aleksey Miller and the director general of the Vietnamese oil and gas group PetroVietnam Nguyen Quoc Khanh signed the agreement on basic conditions of fulfillment of projects on development of Nagumanovskoye field in Orenburg Oblast and Severo-Purovskoye field in Yamal.

As the press-center of Gazprom reports, the sides discussed extension of cooperation in oil sphere, including joint work within Dung Quat refinery and also in the sphere of electric power engineering, gas motor fuel and LNG deliveries. Constructive work on blocks No. 112, 129 - 132 of the continental shelf of Vietnam was marked, as well as in fields Moc Tinh and Hai Thach located within licensed blocks 05-2 and 05-3. The agreement on basic conditions is legally binding. The document identifies key regulations of the projects, including the plan of work, the sales concept and also general conditions of financing and price-forming, as Aleksey Miller notes. He is convinced that the experience of joint hydrocarbon production in Vietnam will allow fulfilling large-scale projects in Russia successfully. The state group PetroVietnam is busy in exploration, extraction, processing, transportation and selling of hydrocarbons. In 2009 Gazprom and PetroVietnam signed the agreement on strategic partnership, which included interaction of the companies in oil and gas projects in Russia, Vietnam and third countries. In 2014 Gazprom and PetroVietnam signed the framework agreement on conditions of development of Severo-Purovskoye gas condensate field. Proved geologic reserves of gas here make 45 milliard and 500 million cubic meters, extractable reserves of condensate - 6826 thousand tons. The license for development of Severo-Purovskoye field belongs to Gazpromviet, LLC: Gazprom – 51 percent, PetroVietnam - 49 percent. Dung Quat is the only refinery in Vietnam. Its capacity makes 6 million and 500 thousand tons per year.