According to the paper, Board member and PetroVietnam CEO Do Van Hau will be acting Chair until a new chairperson is appointed in the near future by the Prime Minister of the Socialist Republic of Vietnam, upon the recommendation of the Minister of Trade and Industry.
The handover of the powers of the Chair of the Board of Directors and the Secretary of the PVN Party Organisation took place on 2 June at the company's central office in Hanoi. Pham Xuan Kanu, the former deputy, will now be temporarily in charge of the party organisation.
Gazprom and PetroVietnam have been in collaboration since 2000, when they signed a contract on prospecting, exploration, production and sales of hydrocarbons in Block 112 of the continental shelf of Vietnam. To implement the contract, the partners created the Joint Operating Company Vietgazprom, in which Gazprom is represented by its sole company specialised in prospecting, exploration and development of hydrocarbon deposits outside the Russian Federation – Gazprom International.
In 2007 the Bao Vang gas condensate deposit was discovered in this block, and 2009 saw the discovery of the Bao Den gas and gas condensate field.
In 2008, the parties signed an Agreement on Cooperation, which makes provision for geological explorations and the further development of new blocks offshore from Vietnam, as well as the creation of another joint venture, Gazpromviet, for working in Russia, Vietnam and in third countries.
In the same year Gazprom and Petrovietnam signed a long-term contract for blocks 129, 130, 131 and 132 of the continental shelf of Vietnam on production-sharing agreement (PSA) terms, under which Vietgazprom was appointed the operator. Currently, preparations for exploratory drilling are in full swing.
In 2009, Gazprom and Petrovietnam signed a Strategic Partnership Agreement. The parties agreed to continue their joint operations on Vietnam's continental shelf within the framework of previously signed contracts and to examine further opportunities for cooperation in new license blocks.
In 2012, Gazprom International, on the instructions of Gazprom, joined the project involving the exploration and development of the offshore fields Moc Tinh and Hai Thach within licence blocks 05-2 and 05-3 in the South China Sea, and by October of the following year industrial production was already underway.
Also in October 2013, an agreement was signed on the basic principles for a joint venture for a project on the use of natural gas as a motor fuel within Vietnam. Within the JV, named PVGAZPROM Natural Gas for Vehicles, the agreement on the creation of which was signed a month later in the presence of the presidents of both countries, the Russian party is represented by Gazprom International and Gazprom Gas Motor Fuel LLC.