Energy cooperation between oil and gas companies of the Russian Federation and Vietnam. Prospects and challenges

Abstract

The article shows the history of the energy cooperation development between oil and gas companies (OGC) of the Russian Federation (RF) and the Socialist Republic of Vietnam (SRV) on the continental shelf of Vietnam in the South China Sea. Despite the richest reserves of natural resources and, in particular, hydrocarbons in the territory of Vietnam, slightly less than half of the potential oil reserves and about a third of the potential natural gas reserves have been explored. The desire of the Vietnamese leadership to develop relations in the oil and gas sector with foreign countries has led to the attraction of foreign oil and gas companies to the search, exploration and development of oil and gas fields on the shelf of the SRV in the South China Sea. Russian oil and gas companies are among the key partners in hydrocarbon production. The article shows the spheres of cooperation between Russian and Vietnamese oil and gas companies, its prospects and risks. The authors note that not only Russian oil and gas companies operate in Vietnam, but Vietnamese oil and gas companies have also gained access to Russian fields in the Russian Federation.