Vietsovpetro

Joint Venture "Vietsovpetro"
VIETSOVPETRO
Native name
Liên doanh Việt – Nga Vietsovpetro
FormerlyJoint Soviet-Vietnamese Oil & Gas Enterprise «Vietsovpetro»
Company typeJoint venture
IndustryPetroleum industry
Founded1981 (1981)
Headquarters
Vung Tau
,
Vietnam
ProductsCrude oil, natural gas
Production output
3.1 million tonnes of crude oil,
0.91 billion cubic metres of natural gas (2021)[1]
RevenueOver US$1.68bn (2021)[1]
ParentPetrovietnam (51%)[2]
Zarubezhneft (49%)[2]
Websitewww.vietsov.com.vn

The Russia-Vietnam Joint Venture – Vietsovpetro[3] (VSP;[4]Vietnamese: Liên doanh Việt – Nga Vietsovpetro, lit. 'Viet-Russo Joint venture Vietsovpetro',[5]Russian: Совместное российско-вьетнамское предприятие «Вьетсовпетро», romanized: Sovmestnoye rossiysko-v'yetnamskoye predpriyatiye «V'yetsovpetro», lit. 'Joint Russian-Vietnamese venture «Vietsovpetro»') is a joint Russo-Vietnamese enterprise for oil and gas exploration headquartered in Vung Tau, Vietnam.[6] According to the VNR500 (Top 500) ranking, Vietsovpetro was Vietnam's 8th largest company.[7][8]

It was established in 1981 under an inter-governmental agreement between the JSC Zarubezhneft of the Soviet Union (later inherited by the Russian Federation) and Vietnam's state-owned Petrovietnam, with each side holding half of stake.[9]

On 10 December 2010, VietsovPetro agreed to extend its cooperation with JSC Zarubezhneft for 20 years until 2030. As per the new arrangement, PetroVietnam will hold a 51% stake in the joint venture with the Russian company holding 49%.[9]

See also

References

  1. ^ a b "Vietsovpetro announce end of year results". Tuoi Tre News. 31 December 2021. Retrieved 15 August 2022.
  2. ^ a b Hieu Anh (31 December 2010). "VietsovPetro success story to get a new chapter". Vietnam Investment Review. Archived from the original on 18 January 2013. Retrieved 30 September 2016.
  3. ^ "Introduction - Joint Venture "Vietsovpetro"". Vietsovpetro.
  4. ^ "Giới thiệu - Liên doanh Việt - Nga "Vietsovpetro"". Vietsovpetro (in Vietnamese).
  5. ^ "О НАС - Совместное российско-вьетнамское предприятие "Вьетсовпетро"". Vietsovpetro (in Russian).
  6. ^ "Vietnam". Zarubezhneft. Retrieved 30 September 2016.
  7. ^ "Vietnam's top 500 firms in 2015 named". VietNam News. 4 December 2015. Retrieved 30 September 2016.
  8. ^ "TOP 500 doanh nghiệp lớn nhất Việt Nam" (in Vietnamese). Vietnammonitor – Vietnam Report. Retrieved 30 September 2016.
  9. ^ a b Dao Dang Toan (14 December 2010). "Russia, Vietnam extend VietsovPetro JV agreement". Platts. Retrieved 7 December 2011.

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