Rosneft and Petrovietnam have signed a memorandum of understanding to strengthen cooperation in upstream and downstream oil and gas operations in Russia, Vietnam, and third countries.
Rosneft has Vietnamese interests through TNK Vietnam, a 100% indirect subsidiary it absorbed when it acquired TNK-BP in March (OGJ Online, Mar. 21, 2013).
TNK Vietnam holds a 35% interest in and operates offshore Block 06-1 and a 32.67% share of the Nam Con Son pipeline, which carries natural gas and condensate from offshore fields to the Dinh Co Terminal and to the Phy My Power Complex.