The Russia-Vietnam Joint Venture – Vietsovpetro[3] (VSP;[4]Vietnamese: Liên doanh Việt – Nga Vietsovpetro, lit. 'Viet-Russo Joint venture Vietsovpetro',[5]Russian: Совместное российско-вьетнамское предприятие «Вьетсовпетро», romanized: Sovmestnoye rossiysko-v'yetnamskoye predpriyatiye «V'yetsovpetro», lit. 'Joint Russian-Vietnamese venture «Vietsovpetro»') is a joint Russo-Vietnamese enterprise for oil and gas exploration headquartered in Vung Tau, Vietnam.[6] According to the VNR500 (Top 500) ranking, Vietsovpetro was Vietnam's 8th largest company.[7][8]
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| VIETSOVPETRO | |
Native name | Liên doanh Việt – Nga Vietsovpetro |
| Formerly | Joint Soviet-Vietnamese Oil & Gas Enterprise «Vietsovpetro» |
| Company type | Joint venture |
| Industry | Petroleum industry |
| Founded | 1981 |
| Headquarters | , |
| Products | Crude oil, natural gas |
Production output | 3.1 million tonnes of crude oil, 0.91 billion cubic metres of natural gas (2021)[1] |
| Revenue | Over US$1.68bn (2021)[1] |
| Parent | Petrovietnam (51%)[2] Zarubezhneft (49%)[2] |
| Website | www |
It was established in 1981 under an inter-governmental agreement between the JSC Zarubezhneft of the Soviet Union (later inherited by the Russian Federation) and Vietnam's state-owned Petrovietnam, with each side holding half of stake.[9]
On 10 December 2010, VietsovPetro agreed to extend its cooperation with JSC Zarubezhneft for 20 years until 2030. As per the new arrangement, PetroVietnam will hold a 51% stake in the joint venture with the Russian company holding 49%.[9]
