In May 2008 the parties signed an Agreement of Further Cooperation envisaging geological exploration and development of four new blocks offshore Vietnam. Vietgazprom, a joint operating company set up on a par, was appointed as the project operator. Under the Agreement, the parties also established a Gazpromviet joint venture to perform activities in Russia, Vietnam and third countries.
Gazprom and PetroVietnam signed a Strategic Partnership Agreement in December 2009. The document provides for long-term collaboration in the following areas:
further joint work in Vietnamese offshore blocks under the previously concluded oil and gas contracts;
studying follow-up cooperation opportunities in the vacant licensed blocks of Vietnam;
active cooperation in oil and gas projects in Russia, Vietnam and third countries within the Gazpromviet joint venture:
sci-tech cooperation;
establishment of a Joint Coordinating Committee and Joint Working Groups.
In April 2012 Gazprom and PetroVietnam signed an Agreement on training and retraining the staff to be employed by Vietnamese oil and gas companies.
In July 2012 Gazprom Marketing & Trading Singapore, a wholly-owned subsidiary of Gazprom, and PetroVietnam Gas Joint Stock Corporation (i.e. PVGas, integrated into PetroVietnam) signed a Memorandum of Understanding envisaging LNG supplies to the Socialist Republic of Vietnam.
In May 2013 Gazprom and PetroVietnam signed a Memorandum of Understanding to cooperate in natural gas production and use as a motor fuel in the Socialist Republic of Vietnam. In November 2013 a PVGAZPROM Natural Gas for Vehicles joint company was set up as part of the practical phase in implementing the abovementioned document. The joint company’s primary objective is to arrange the conversion of public transport in Ho Chi Minh City (biggest metropolis of South Vietnam) to natural gas.