The Vietnamese company will receive 35% of the Kharyaginsky PSA in Russia by 2027.

The Russian government plans to transfer a 35% stake in the Kharyaginsky oil field to the Vietnamese PetroVietnam company. This is evidenced by the decree published on May 8 on the official website of the Government of the Russian Federation.

It is specified that Zarubezhneft will have to transfer 50% of its 70% share in the Kharyaga Production Sharing Agreement (PSA) to an oil company from Vietnam, due to which PetroVietnam will become the owner of a share equal to 35%.

In response, the Vietnamese organization will have to transfer 49% of the future PSA for the development of two blocks 01/17 and 02/17, which are located in Vietnam, to the Russian company.

It is expected that all necessary procedures should be completed by December 31, 2026. The Ministry of Energy of the Russian Federation and the Ministry of Industry and Trade of the Republic of Vietnam have been appointed responsible for the implementation of the processes of the interstate agreement.

The agreement is aimed at developing and expanding the activities of the two states in the field of oil and gas production, the order says.

On April 24, the Ministry of Energy of the Russian Federation announced the beginning of discussions between Russia and Vietnam on the possibility of supplying Russian liquefied natural gas (LNG) as part of the intensification of the energy dialogue between the two countries. Russian Energy Minister Roman Marshavin said that the projects under discussion are aimed at long-term cooperation.