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Joint Venture
Industry Oil and gas industry
Founded 1981 (1981)
Headquarters Vung Tau, Vietnam
Products crude oil, natural gas
Production output
6.11 million tonnes of oil,
1.23 billion cubic metres of gas (2012)[1]
Revenue over US$ 5bn (2012)[1]
Parent Petrovietnam (51%)[2]
Zarubezhneft (49%)[2]

Vietsovpetro, headquartered in Vung Tau, Vietnam, is a joint Russian-Vietnamese enterprise for oil and gas exploration.[3] According to the VNR500 (Top 500) ranking, Vietsovpetro is Vietnam's 5th largest company.[4] [5]

It was established in 1981 under an inter-governmental agreement between the JSC Zarubezhneft of the Soviet Union and Vietnam's state-owned PetroVietnam, with each side holding half of stake.[6]

On December 10, 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%.[6]

See also[edit]


  1. ^ a b "Vietsovpetro announce end of year results". Viet Nam News. 20 December 2012. Retrieved 25 December 2012. 
  2. ^ a b Anh, Hieu (2010-12-31). "VietsovPetro success story to get a new chapter". Vietnam Investment Review. Retrieved 2011-12-07. 
  3. ^ "JV VietsovPetro". Zarubezhneft. Retrieved 2011-12-07. 
  4. ^ "Công bố bảng xếp hạng VNR500 năm 2012". VEF - Vietnamnet. 11 December 2012. Retrieved 11 December 2012. 
  5. ^ "VNR500-TOP 500 DOANH NGHIỆP LỚN NHẤT VIỆT NAM". Vietnammonitor - Vietnam Report. Retrieved 11 December 2012. 
  6. ^ a b Dao Dang Toan (2010-12-14). "Russia, Vietnam extend VietsovPetro JV agreement". Platts. Retrieved 2011-12-07. 


External links[edit]