Zarubezhneft hopes to expand presence in Southeast Asia

MOSCOW. Sept 26 (Interfax) - Zarubezhneft is interested in investing in new projects in Southeast Asia, the Russian state oil company's CEO, Sergei Kudryashov told reporters on the sidelines of Russian Energy Week.

"Of course we're interested," he said, when asked about the company's interest in new projects in Southeast Asia, including Vietnam. However, he did not give any specifics about these plans.

He also said the company plans to triple gas production at Block 11-2 off the coast of Vietnam, the investment license for which was received in June.

"This is a working block, producing 1 million [cubic meters] per day. We plan to increase production there by about three times," Kudryashov said.

Zarubezhneft has been forming a gas cluster in Vietnam and Indonesia since 2021. According to the latest available information, in addition to Block 11-2, it includes operating Block 06-1 (35% owned by Zarubezhneft EP Vietnam B.V., 45% by India's ONGC and 20% by PetroVietnam), pipeline consortium Nam Con Son Pipeline (32.7% owned by Zarubezhneft EP Vietnam, 16.3% by Anglo-French Perenco and 51% by Vietnam's PV Gas), operating Block 12/11 and the Tuna block in Indonesia (50% owned by ZN Asia and 50% by the UK's Premier Oil).