OREANDA-NEWS. In Moscow in the office of "Zarubezhneft" JSC the 42nd Meeting of "Vietsovpetro" Joint Venture Committee was held.

The Russian side of the Committee was represented by the Head of the Russian part of the Committee, General Director of "Zarubezhneft" JSC S.Kudryashov, State Secretary - Deputy Minister of Energy of the Russian Federation Y.Sentyurin, Head of the Department of trade organizations and foreign property of the Federal Agency for State Property Management of the Russian Federation O.Tarasenko and new members of the Committee: First Deputy General Director of "Zarubezhneft" JSC S.Yerke and First Deputy General Director of "Vietsovpetro" JV A.Dashevskiy. The Vietnamese side of the Committee was represented by the Head of the Vietnamese part of the Committee, General Director of "Petrovietnam" OGC Do Van Hau and new General Director of "Vietsovpetro" JV Tu Thanh Nghia. Among honorable guests were the Deputy of the State Duma of Federal Assembly of the Russian Federation S.Levchenko, Extraordinary and Plenipotentiary Ambassador of SRV in RF Pham Xuan Son, Chairman of the Management Board of "Petrovietnam" OGC Phung Dinh Thuc.

After considering the results of the joint venture for the 6 months of 2013 it was noted that:

during the reference period "Vietsovpetro" JV produced 2 822,9 thousand tons of oil against the annual plan of 2 751 thousand tons (102,6% of the planned value);

for the first six months of 2013 actual increase of geological/recoverable oil reserves was 8,8/2,4 million tons;

for the first six months of 2013 volume of production drilling was 55 185 meters against the annual plan of 42 228 meters (130,7% of the planned value);

construction of 15 wells was completed against the annual plan of 9 wells (166,7% of the planned value). Putting into operation the drilled wells ahead of schedule positively affected the production plan implementation.

According to the decisions of 39-41 Meetings of "Vietsovpetro" JV Committee in 2013 the work on expansion the area of activity was continued.

JV plans to continue work on studying blocks potential and participation in tenders on Blocks in SRV and the third countries.

Also other questions of production, financial and economic activity of "Vietsovpetro" JV were considered.

Upon work completion of the 42nd Meeting of "Vietsovpetro" JV Committee heads of "Zarubezhneft" JSC and "Petrovietnam" OGC S.Kudryashov and Do Van Hau signed the Minutes of the Meeting.