Russian-Vietnamese joint venture takes on Nenets AO
The newly formed joint venture between the Russian Zarubezhneft and the Vietnamese PetroVietnam is bidding for four licenses in the Nenets Autonomous Okrug.
According to newspaper Kommersant, the licenses have total resources of 78 million tons of oil. Also Rosneft and Lukoil are bidding for the fields. The licenses will be offered in a tender to be hold 7 May this year. The two companies are also planning offshore production outside the coast of Vietnam
