Vietnam plans to invest up to $300 million in oil production in the Caspian Sea

Almaty. April 21. Silkroadnews - "Vietnamese corporation PetroVietnam plans to become a shareholder of JSC "State oil company of the Republic of Dagestan" and invest about 150-300 million dollars in additional exploration and production of oil in the Caspian shelf", - said in a statement of Trend on Tuesday.
Thus, within the framework of a bilateral meeting in Makhachkala  Vietnamese state corporation discussed prospects of cooperation with the "State oil company of the Republic of Dagestan" in the development of subsoil of the Caspian Sea, adjacent to Dagestan "Izberbash unit - 2" and "Sulak block 4".
PetroVietnam is considering to joint the project as an investor.
In turn, the head of Dagestan Ramazan Abdullatipov assured foreign partners that the government of the republic completely take over their security questions.
PetroVietnam company engaged in oil and gas throughout the territory and in the territorial waters of Vietnam. It also operates in the oil and gas industry abroad, particularly in Malaysia, Indonesia, Mongolia, Algeria and Russia. PetroVietnam is one of the main partners of the company "Rosneft" in the Asia-Pacific region.