Russia, Vietnam ink gas exploration deal
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E-mail China.org.cn, April 10, 2012
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An oil rig in the South China Sea. [File photo] |
Russian natural gas producer Gazprom said it has reached a deal with Vietnam Oil & Gas Group (PetroVietnam) to exploit two gas blocks off the coast of Vietnam, UPI reported.
The deal included exploring two licensed blocks in the Vietnamese continental shelf in the disputed South China Sea. The two blocks cover two discovered gas and condensate fields, Moc Tinh and Hai Thach, with total reserves of 55.6 billion cubic meters of gas and 25 million tons of condensate, Gazprom said.
According to the deal, Gazprom takes a 49 percent stake in the offshore blocks. As early as in 2009, Gazprom and PetroVietnam entered into a strategic partnership to develop gas resources off Vietnam's southern coast.
Experts said Vietnam has been Russia's ally since the Soviet era and this move signals attempts of Vietnam to bring Russia into the long-running territory dispute with China.
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