Russia’s Rosneft petroleum group will supply up to 96 million tonnes of oil to the PetroVietnam Oil Corporation (PV Oil) from 2016 to 2040.
 |
|
At the signing ceremony |
The deal was reached by Rosneft CEO Igor Sechin and PV Oil Vice President Vo Khanh Hung at the 20 th International Economic Forum in Saint Petersburg city, Russia, on June 16-18.
It constitutes one of the biggest contracts of its kind, as targeted by Russia in its strategy to expand partnership in the Asian-Pacific market.
Igor Sechin said the contract turns Rosneft into the leading supplier of energy for Vietnam – one of the most dynamic economies in Asia-Pacific.
The long-term deal will also allow the Russian company to improve its economic efficiency and contribute to stabilising the global energy market.