Vietnamese oil and gas giant agrees to terms with Gazprom over development of Russian fields and discusses greater cooperation in Vietnamese projects.
PetroVietnam and the Russian energy company Gazprom have signed an agreement on the major terms and conditions for developing two fields in Nagumanovskoye (Orenburg Region) and Severo-Purovskoye (Yamal-Nenets Autonomous Area).
The two parties also discussed the extension of cooperation in the oil sector, including work at the Dung Quat Oil Refinery project as well as power supplies and natural gas vehicle sectors and liquefied natural gas supplies in Vietnam.
In 2014 PetroVietnam and Gazprom signed a framework agreement for the joint development of the Nagumanovskoye oil, gas and condensate field and Severo-Purovskoye gas and condensate field.
Nagumanovskoye has an estimated 5.8 billion cubic meters of gas reserves, 1.683 million tonnes of recoverable condensate reserves, and 960,000 tonnes of recoverable oil reserves.
Severo-Purovskoye has 45.5 billion cubic meters of proven in-place gas reserves and 6.826 million tonnes of recoverable condensate reserves.