Russia’s TNK-BP Oil Group will provide the first shipment of 100 tons of crude oil for the PetroVietnam Oil Corporation (PV Oil) via the Eastern Siberia-Pacific Ocean (ESPO) in November this year.
To this effect, a contract was signed between PV Oil General Director Nguyen Xuan Son and Deputy Chairman of TNK-BP’s Management Board Maksim Barskiy in Moscow on September 29 at the presence of Vietnamese Deputy Prime Minister Hoang Trung Hai.
Speaking after the signing ceremony, Deputy PM Hai expressed his hope that the partnership between PV Oil and TNK-BP will further develop and harvest more results in the future.
He stressed that the signing of the ESPO crude oil contract will be the foundation for the two sides to expand cooperation, including the exchange of experiences in crude oil trading and processing.
The Deputy PM declared that the Vietnamese government supports the cooperation between PetroVietnam and TNK-BP in exploring and exploiting oil and gas in the two countries’ territories and in third countries.
PV Oil General Director Nguyen Xuan Son said he hoped that after the signing, TNK-BP will continue to participate in oil processing, refinery and distribution in Vietnam .
The contract was an initial step for the two companies to sign other agreements in order to boost cooperation and mutual investment, he added.
According to PetroVietnam General Director Phung Dinh Thuc, PetroVietnam considers Russia a strategic area and with the contract, TNK-BP has become the third biggest partner of PetroVietnam and PV Oil, after Zarubezhneft and Gazprom.
He informed that the first oil stream resulting from the cooperation between PetroVietnam and Zarubezhneft will run in the next several days.
PetroVietnam has so far signed 20 oil and gas contracts with foreign companies, he added.
