LIÊN DOANH VIỆT-NGA VIETSOVPETRO

Company Introduction: VIETSOVPETRO JOINT VENTURE

Company Type: Factory (Operator/Producer)

Overview:

Vietsovpetro Joint Venture (LIÊN DOANH VIỆT-NGA VIETSOVPETRO) is a prominent oil and gas exploration and production company based in Vietnam. Established in 1981, it is a strategic joint venture between Petrovietnam (the national oil and gas group of Vietnam) and Zarubezhneft (a Russian state-owned oil and gas company).

Core Business:

Vietsovpetro's primary activities encompass the full lifecycle of oil and gas upstream operations. This includes:

- Geological exploration and appraisal of oil and gas fields.

- Development and construction of offshore oil and gas production facilities.

- Extraction and production of crude oil and natural gas.

- Associated services related to oil and gas operations.

Key Operations:

The company is renowned for its extensive operations in the Cuu Long Basin, offshore Vietnam, most notably the Bach Ho (White Tiger) oil field, which has been a significant contributor to Vietnam's oil output for decades. Vietsovpetro has played a crucial role in the development of Vietnam's oil and gas industry, contributing substantially to the nation's energy security and economic growth.

Classification:

Vietsovpetro functions as an operator and producer of crude oil and natural gas. It is categorized as a "factory" in the sense that it extracts and processes raw materials (crude oil and natural gas) directly from natural resources, rather than engaging primarily in the buying and selling of finished goods as a trader.

VIETSOVPETRO produces and sells:

* Crude oil

* Natural gas

* Associated gas