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The Russia-Vietnam Joint Venture – Vietsovpetro (VSP;,) is a joint
Russo Russo may refer to: * Russo (surname) * Russo (footballer, 1915–1980), full name Adolpho Milman, Brazilian football forward and manager * Russo (footballer, born 1976), full name Ricardo Soares Florêncio, Brazilian football defender * Russo brot ...
-
Vietnamese Vietnamese may refer to: * Something of, from, or related to Vietnam, a country in Southeast Asia * Vietnamese people, or Kinh people, a Southeast Asian ethnic group native to Vietnam ** Overseas Vietnamese, Vietnamese people living outside Vietna ...
enterprise for
oil and gas exploration Hydrocarbon exploration (or oil and gas exploration) is the search by petroleum geologists and geophysicists for hydrocarbon deposits, particularly petroleum and natural gas, in the Earth's crust using petroleum geology. Exploration methods ...
headquartered in Vung Tau,
Vietnam Vietnam, officially the Socialist Republic of Vietnam (SRV), is a country at the eastern edge of mainland Southeast Asia, with an area of about and a population of over 100 million, making it the world's List of countries and depende ...
. According to the VNR500 (Top 500) ranking, Vietsovpetro was Vietnam's 8th largest company. It was established in 1981 under an inter-governmental agreement between the JSC Zarubezhneft of the
Soviet Union The Union of Soviet Socialist Republics. (USSR), commonly known as the Soviet Union, was a List of former transcontinental countries#Since 1700, transcontinental country that spanned much of Eurasia from 1922 until Dissolution of the Soviet ...
(later inherited by the
Russian Federation Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...
) and
Vietnam Vietnam, officially the Socialist Republic of Vietnam (SRV), is a country at the eastern edge of mainland Southeast Asia, with an area of about and a population of over 100 million, making it the world's List of countries and depende ...
's state-owned
Petrovietnam Petrovietnam (PVN), formally the Vietnam National Industry - Energy Group () and formerly the Vietnam Oil and Gas Group ( or ), is the state-owned national oil, gas and energy industry corporation of Vietnam. Petrovietnam has developed ra ...
, with each side holding half of stake. 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%.


See also

* List of oil exploration and production companies in Asia


References


External links

* {{official website Oil and gas companies of Vietnam Energy companies established in 1981 Non-renewable resource companies established in 1981 Soviet Union–Vietnam relations Vietnamese companies established in 1981 Joint ventures