Vietnam’s PetroVietnam Group is focused on hydrocarbon exploration, production, processing, transportation and marketing. Gazprom and PetroVietnam collaborate under the Agreement on strategic cooperation.
Vietgazprom, a joint operating company established by Gazprom and PetroVietnam on a parity basis, is engaged in exploration in licensed blocks Nos. 111/04, 112, 113 and 129–132 located on the continental shelf of Vietnam. In 2007–2016, the Bao Vang and Bao Den gas and condensate fields were discovered along with the Than Bien deepwater petroleum gas field. Gazprom is represented in the joint venture by Gazprom EP International B.V., a specialized company for the implementation of hydrocarbon prospecting, exploration and development projects outside Russia.
Since 2013, Bien Dong POC, operator of the joint project implemented by Gazprom EP International B.V. and Petrovietnam in blocks Nos. 05–2 and 05–3 on the shelf of Vietnam, has been engaged in commercial production of gas and gas condensate from the Moc Tinh and Hai Thach fields.
In 2015, PVGAZPROM Natural Gas for Vehicles, a joint Russian-Vietnamese company focused on the use of natural gas as a vehicle fuel, was registered. The joint venture consists of Gazprom International (35.5 per cent), Gazprom Gazomotornoye Toplivo (35.5 per cent), and PETROVIETNAM GAS (29 per cent).
On September 6, 2018, Gazprom, PetroVietnam and the Quang Tri Provincial People’s Committee signed the Memorandum of Cooperation.