Russian state oil firm Rosneft has signed two separate memoranda of understandings on foreign exploration projects.
The company signed an agreement with another Russian state-controlled oil explorer, Zarubezhneft, and PetroVietnam over geological exploration in the Vietnamese shelf.
The partnership would cover joint geological explorations in offshore Blocks 125 and 126, in Fukhan, as well as expansion beyond the blocks.
“The signing of this memorandum by Rosneft, Zarubezhneft and PetroVietnam is an evidence of strategic mutually beneficial cooperation between the Russian oil and gas companies and Vietnamese partners,” said Igor Sechin, Rosneft president and chairman.
“Possible extension of the gas assets portfolio in the region will let Rosneft to strengthen its positions on the energy resources supplier market and get new competences in offshore production.
“In the same time, implementation of this project will let Vietnam strengthen its energy safety.”
The Russian giant has also signed a separate memorandum with Mozambique National Oil Company (ENH) over potential cooperation and joint bidding in upcoming hydrocarbon exploration and production licencing rounds in the country.
Both agreements were signed during the 21st World Petroleum Congress in Moscow.