Russia's Gazprom Joins Vietnam Offshore Drilling

Law360, New York (April 5, 2012, 6:50 PM EDT) -- Gazprom OAO, Russia's biggest gas producer, has inked deals with Vietnam's state-owned energy company to take a 49 percent interest of two offshore drilling blocks in the South China Sea, it said Thursday.

Gazprom will partner with Vietnam Oil and Gas Group, known as PetroVietnam, to explore the Hai Tinh and Hai Thach fields, which are estimated to hold nearly 2 trillion cubic feet of gas and 25.1 million tons of gas condensate. The two blocks sit in a contentious region of the South China Sea,...
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