Vietnam is seeking to secure long-term energy supplies from Russia, as Prime Minister Pham Minh Chinh urged greater investment and cooperation with Russian oil firm Zarubezhneft.

During a meeting with company executives in Moscow, Chinh called on the firm to expand its role in Vietnam’s oil and gas sector, according to a government statement.

Push For Long-Term Energy Supply

The Vietnamese leader requested that Zarubezhneft provide stable, long-term supplies of crude oil, natural gas and petroleum products to support the country’s growing energy needs.

He also proposed closer coordination with state-owned Petrovietnam on developing crude oil storage facilities, aimed at strengthening Vietnam’s energy security.

Expanding Exploration And Production

Chinh encouraged the Russian firm to increase its investment in oil exploration and production activities in Vietnam, particularly in offshore fields.

Vietsovpetro, a joint venture between Zarubezhneft and Petrovietnam, remains Vietnam’s largest crude oil producer, with much of its output coming from the offshore Bach Ho field.

Renewable Energy Cooperation

Beyond fossil fuels, Zarubezhneft is also exploring opportunities in renewable energy. The company is planning offshore wind power projects in Vietnam with a combined capacity of 1 gigawatt.

This reflects a broader effort by Vietnam to diversify its energy mix while maintaining strong ties with traditional partners like Russia.

Strengthening Strategic Energy Ties

The discussions highlight deepening energy cooperation between Vietnam and Russia, as Hanoi looks to ensure stable supply and expand infrastructure amid rising demand.

The push for long-term agreements and new projects underscores Vietnam’s focus on balancing energy security with future sustainability goals.

(with inputs from Reuters)