Sergei Oganesian, Director of the Energy Agency announced that Russian companies are preparing plans for placing technology and beginning projects for the purpose of mining coal in the Vietnam Republic. The news came to Rosbalt from the Energy Ministry's press service. In addition, Russian companies are taking part in placing equipment for electric and hydroelectric industry. Oil and gas projects are actively developing under the direction of Russian fluel and energy companies in Vietnam.
'From Vietnam's position it was noted that with the help of our country the very foundation of the oil and gas industry in Vietnam was laid which today allows the extraction of over 13 million tons of petroleum each year within Vietsovpetro alone (the overall production of petroleum in the country is around 17 million tons). This resource allows for exportation of petroleum and provides for the needs of the country. Most important today is the creation of investment conditions which would allow Russian companies to work effectively,' stressed Oganesian.
On May 17 there was a meeting between Russia's minister of industry and energy, Viktor Khristenko, and the deputy chair of the Socialist Republic of Vietnam, Vu Khoana. The parties discussed a wide range of questions regarding economic relations between the two countries. Representatives of the delegations noted that the oil and gas industry is being examined as a priority area in the two-way cooperation.