Russia-Vietnam Joint Venture - Vietsovpetro was established on June 19th, 1981 and operated upon the Inter-Governmental Agreements between Vietnam and Soviet Union (1981), Vietnam and Russian Federations (2010) regarding the co-operation in petroleum exploration and production on the continental shelf of Vietnam.
Currently, Vietsovpetro consists of sixteen (16) subsidiaries, each of which constitutes a core function to support the petroleum exploration and production activities. With 8.000 international qualified, experience staffs and highly-skilled technician, Vietsovpetro is capable to execute complex petroleum projects - from seismic interpretation, exploration drilling, field development; to engineering, fabrication and installation of offshore facilities, production and export of crude-oil - not only for Vietsovpetro, but also for other local and international companies.
Exploration, production, gathering, processing, transportation, storing and selling of petroleum products, gas and condensate in the Socialist Republic of Vietnam, Russia and third-party countries, through organizations established by the S. R Vietnam on the basis of petroleum contracts;
Scientific research, survey, engineering, construction and development of oil and gas fields, engineering and construction of oil and gas projects;
Buy, sell, import and export of oil and gas materials and equipment;
Perform and provide technical services for local and international companies.
Other non-illegal services.
Vietsovpetro has discovered nine (09) oilfields with commercial value and rich oil-, in which White Tiger is the biggest oilfield, with major concentration of oil and gas in granite basement reservoir. This is a special phenomenon, never before seen in over 400 oilfields and 50 sedimentary basins discovered in the Pacific Northwest area.