Zarubezhneft plans to start oil production on Vietnamese shelf ‘22

MOSCOW, Jul 3 (PRIME) -- Russian oil producer Zarubezhneft plans to start oil production on block 09-2/09 in Vietnam at the end of 2022, the company said in a report seen by PRIME late on Tuesday.

“We will get an investment license for this field in 2019 and the first oil until the end of 2022,” CEO Sergei Kudryashov said as cited in the statement.

Zarubezhneft and Petrovietnam signed an agreement on the main conditions of a production sharing agreement on the block in September 2018. Zarubezhneft has a 30% stake in the field, Petrovietnam 30%, their joint venture Vietsovpetro 40%. In May, Zarubezhneft and PVEP Corporation, affiliate of Petrovietnam, signed a cession agreement for the stake.

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