JSC “Zarubezhneft” top management took part in the ceremony of First Commercial Oil at “Nam Rong – Doi Moi” oil field held in Vietnam

Delegation of JSC “Zarubezhneft”, led by the General Director N.G. Brunich visited the city of Vung Tau (Vietnam) on March 5th, 2010. The delegation took part in the ceremony of First Commercial Oil at the “Nam Rong – Doi Moi” oil field. A.G. Kovtun, Ambassador extraordinary and plenipotentiary of the Russian Federation in the Socialist Republic of Vietnam, N.D. Ubushiev, Consul General of the Russian Federation in Ho Chi Minh city, top management of “Petrovietnam”, JV Vietsovpetro and VRJ Petroleum Co. also attended the ceremony.

The oil field is situated within Vietsovpetro and VRJ Petroleum Co. (Vietnam – Russia – Japan) joint development area. The members of VRJ Petroleum are JSC “Zarubezhneft” (50%), Petrovietnam (35%), Idemitsu (15%). The members of Vietsovpetro are JSC “Zarubezhneft” (50%) and Petrovietnam (50%).

Upon their arrival at the oil production platform, the project participants from Russia, Vietnam and Japan cut the ribbon to symbolize the first oil at the “Nam Rong – Doi Moi” oil field. The delegation also examined the offshore crude oil production and transportation sites, oil shipment system.

The solemn event continued onshore in the city of Vung Tau. N.G. Brunich, JSC “Zarubezhneft” General Director, A.G. Kovtun, Ambassador extraordinary and plenipotentiary of Russia in Vietnam, Mr. Phung Dinh Thuc, Petrovietnam’s General Director, Nguyen Huu Tuyen, JV “Vietsovpetro” General Director and Nguyen Quang Vinh, VRJ Petroleum Co. General Director delivered speeches in which they noted that putting the new oil field into production marks an important step in the further development of Russian-Vietnamese oil and gas cooperation. Oil production at this field will add to Vietsovpetro and VRJ Petroleum Co. oil reserves. Putting the oil field into production in such a short time became possible to a large extent due to the rich experience in operations offshore Vietnam of the JV “Vietsovpetro” – the flagship enterprise in Vietnamese oil and gas industry, the most vivid symbol of the two countries’ cooperation in oil and gas development.

Beginning on January, 25th 2010 oil production at the field “Nam Rong – Doi Moi” is now steady. Cumulative production amounted to 27 thousand tons.

Dinh La Thang, Chairman of Petrovietnam’s Management Board, on behalf of the Prime-Minister of the Socialist Republic of Vietnam awarded the top management of VRJ-Petroleum with certificates of Honor.