Russia - Vietnam Strategic Relationship

English translation wrote:
Vietnam and Russia prepared to exploited oil and natural gas in the Arctic

According to RIA, Russian company Rosneft will have 2/3 of the shared stocks in the project. National Gas Corporation of Vietnam (PetroVietnam) will have the rest. Totat estimated cost of this project is 1,5 mil. USD.

Rosneft and Petroviet has established two jointed projecst about exploiting gas and oil on Pechora Sea. This information was annouced by  Rosneft on Friday.

"Rosneft and PetroVietnam had an agreement about a jointed stock company for operation on two areas on the Pechora Sea. Total natural resources in these area are estimated as 367 million tons oi and 64 billion cubic meter natural gas", Rosneft said. "Both sides have achieved many experiences from the previous mutually beneficial cooperations."

Rosneft also said that PetroVietnam are eager to participate in new Russian projects and facilitate the projects on Asian-Pacific market.

Russia and Vietnam during the meeting of the Russian-Vietnamese intergovernmental commission agreed to settlements in national currencies, said First Deputy Prime Minister Igor Shuvalov.

VLADIVOSTOK, September 06. /ITAR-TASS/. Russia and Vietnam will create joint ventures in the shipbuilding and light industries, according to the agreement reached by the inter-governmental commission in Vladivostok on Saturday.
A light industry cluster will be created in Vladivostok with Vietnamese investments to be made on preferential terms, Vietnam’s Deputy Prime Minister Hoang Trung Hai said after the commission meeting.
A shipbuilding enterprise will be built in Vietnam and three light industry factories in Russia - two in the Primorsky Territory, Far East, and one in the Moscow Region, Russian Deputy Minister of Industry and Trade Viktor Yevtukhov said.
The commission also discussed air service between the two countries, fisheries, energy cooperation, farm produce supplies from Vietnam, and interaction between the Russian and Vietnamese auditing and customs services.

MOSCOW, September 05. /ITAR-TASS/. Rosneft and PetroVietnam have agreed to establish joint ventures (JV) for operation in two sectors of the shelf of the Pechora Sea. Investments in prospecting are tentatively estimated at $1.5 billion, a Rosneft announcement says.
The stake of Rosneft in the JV will be 66.67% and that of PetroVietnam 33.33%.
The accord has been reached under the agreement on main terms for cooperation in geological study, prospecting for and production of hydrocarbon fuel on the shelf of the Pechora Sea in the Yuzhno-Russkiy and Western Matveyevskoye license sectors. The two companies signed the agreement on November 12, 2013, during Russian President Vladimir Putin's visit to Vietnam.
The overall extractable resources in the two sectors are estimated at 367 million tonnes of oil and 64 billion cubic metres of gas; those in ABC1+C2 category 13 million tonnes of oil, and 52 billion cubic metres of gas. The programme for geological prospecting in the two sectors presupposes drilling of five exploratory wells and the conduct of seismic survey.
Rosneft currently participates in projects to produce gas and condensate in two blocks on the shelf of Vietnam. The Rosneft Pipeline B.V. Company also owns 32.7% in the "Nam Con Son Pipeline" project which transports hydrocarbon fuel from the Nam Con Son oil and gas bearing area to the shore energy production facilities.

OSLO, September 6 (Itar-Tass) - Worsening relations between Russia and the West will lead to higher unemployment in northern Norway, the business Dagens Naeringsliv edition cited Norwegian Prime Minister Erna Solberg on Saturday as saying.
The premier arrived at the Arctic site of Tromso for a Conservative Party conference from Newport (Wales) where she participated in the NATO summit.