Vietsovpetro

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]

Joint Venture "Vietsovpetro"
VIETSOVPETRO
Native name
Liên doanh Việt – Nga Vietsovpetro
FormerlyJoint Soviet-Vietnamese Oil & Gas Enterprise «Vietsovpetro»
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

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. "Vietsovpetro announce end of year results". Tuoi Tre News. 31 December 2021. Retrieved 15 August 2022.
  2. 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. Dao Dang Toan (14 December 2010). "Russia, Vietnam extend VietsovPetro JV agreement". Platts. Retrieved 7 December 2011.
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