Russia-Vietnam Gazpromviet joint venture is due in August.

19/5 Tass 190

MOSCOW, May 19 (Itar-Tass) - A Russian-Vietnamese joint venture
Gazpromviet will be established in August, the head of Russia's Gazprom
Alexei Miller and the Director General of Vietnam's Petrovietnam, Fung Din
Thyk, announced over the meeting on Wednesday.
The sides discussed how the new joint venture may work on oil and gas
projects in the territories of Russia and third countries, the economic
news agency PRIME-TASS reports. All necessary formalities have been
finalised, Gazprom's information service said.
Miller and Fung Din Thyk discussed bilateral cooperation in earlier
projects. They said that the cooperation between Gazprom and Petrovietnam
in Vietnam's continental shelf was positive and hoped for good results in
future work.
Back on December 15, 2009 Gazprom and Petrovietnam signed an agreement
on strategic partnership. Pursuant to the document, the parties will
continue joint activities in the blocks of Vietnam's continental shelf as
part of the previously signed oil and gas contracts and explore possible
ways of cooperation with the Socialist Republic of Vietnam in free
licensed blocks. The agreement also contemplates intensive cooperation
between Gazprom and Petrovietnam in oil and gas projects in Russia,
Vietnam and third countries to be implemented by Gazpromviet.
The two companies will partner in the Nagumanovskoye oil, gas and
condensate field development. The field is situated in Russia's Orenburg
Region.

-0-kar/gor