THE RUSSIA-VIETNAMESE PROTOCOL ON SURVEYING AND DEVELOPING OIL AND GAS DEPOSITS








HANOI, March 1, 2001 /from a RIA Novosti correspondent/ -- The governments of Russia and Vietnam on Thursday signed a protocol on further  cooperation in the sphere of geological surveying and production of oil and gas on the continental shelf in the south of Vietnam within the framework of the Vietsovpetro (Vietnamese-Soviet joint venture). 


	According to the achieved agreement, the 04-3 block of the shelf in the south of Vietnam has been included in the area of  the Vietsovpetro's activity for oil and gas exploration and  surveying work within the established borders and coordinates. The financing of the work will be done by the sides on a parity basis from the reserve fund of the Vietsovpetro. 


	The exploration and surveying work will last four years. This term, however, can be prolonged for another year with the consent of the sides. The form of the further joint development of the discovered oil and gas deposits will be determined by the sides later. -O- (kos/var)  


	01/03/01    11:56