Vietsovpetro plans to invest US$7 billion

The Russian-Vietnamese oil and gas joint venture Vietsovpetro plans to invest US$7 billion in the business between 2011 and 2015.

During the same period, the joint venture aims to produce 33 million tones of gas, worth US$21 billion US$22 billion.

Of the investment, US$1 billion will be spent on off-shore oil exploration off Russia and nearby countries. The remainder will be spent on buying new equipment. – VOV

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Posted by VBN on Aug 16 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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