Moscow, 30th of March. / PRIME-TASS/. The accounts chamber of the Russian Federation and the State Audit of Vietnam after examining the results of inspection acknowledged the activity of the Joint Venture «Vietsovpetro» being effective and successful. This conclusion is based on the results of investigation of the effectiveness of JV «Vietsovpetro» for the period of 2005 to 2007 conducted under the intergovernmental agreement dated 16th of July, 1991, made last Friday at the collegium of the Accounts chamber, Press Service of the Accounts Chamber said today.
At the collegium it was noticed that for the period of 2005 to 2007 the Joint Venture produced and distributed 29 million tons of oil. During the above mentioned period «Vietsovpetro» contributed RUB 53, 6 billions to the federal budget.
At the same time the investigation showed the increase of oil production cost at 57,6 % from USD 38,39 in 2005 to USD 60,52 in 2007. It’s determined that among factors of increase were the rise of operating, construction and repair work expenses, and also construction of offshore stationary platforms and other objects connected with field exploration. At the same time due to the increase of volumes of capital repairs of wells, total growth of oil production made almost 1 million tons within 3 years.
It was also noticed that during this period expenses of exploration works and intensification of production were increased. As a result new productive formations that gave growth of oil productive capacity were discovered.
Besides, the data presented at the collegium showed that as a result of investigation the question of returning to the federal budget of Russia the sum which was illegally kept back by Vietnamese tax authorities as an export tax from additional profit in amount of USD 36 million was settled. This tax was kept back of the Russian partner of JV. In confirmation of this the government of SRV took respective decision according to information from Vietnam.
The collegium decided to send informational letters to the government and Ministry of Finance of Russia. Financial statement is sent to the Chambers of the Federal Assembly.