PVN and Azerbaijan partners collaborate on Oil and Gas exploration, production, and crude supply
13:10 | 09/05/2025
Based on 33 years of strong bilateral relations and shared trust, both leaders issued a joint declaration to elevate Vietnam–Azerbaijan relations to a Strategic Partnership. This upgraded relationship is set to deepen cooperation mechanisms at both bilateral and multilateral levels, fostering the development of new collaborative frameworks across key sectors.
Among the documents exchanged, Petrovietnam and its subsidiaries signed key memoranda of understanding (MoUs) with Azerbaijan's Ministry of Economy, focusing on upstream exploration and production, petroleum technical services, and workforce training.
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| General Secretary To Lam and President of Azerbaijan Ilham Aliyev witnessed the exchange of an MOU in the fields of oil and gas exploration, exploitation, technical services, and training between the Vietnam National Industry - Energy Group and the Azerbaijan Ministry of Economy. |
Notably, the Binh Son Refining and Petrochemical Joint Stock Company (BSR) – a PVN subsidiary – also signed an MoU with Azerbaijan’s Ministry of Economy for the long-term crude oil supply to the Dung Quat Refinery. The agreement involves BSR, Petrovietnam Oil Corporation (PVOIL), and SOCAR Trading Singapore, a subsidiary of Azerbaijan’s state oil company SOCAR.
Since 2009, PVOIL and BSR have entered multiple agreements with SOCAR Trading SA to supply Azeri crude oil to the Dung Quat Refinery. From 2010 through January 2025, SOCAR Trading Singapore delivered 35 shipments totaling approximately 31.7 million barrels (equivalent to 4.34 million tonnes), valued at around USD 2.55 billion.
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| General Secretary To Lam and President of Azerbaijan Ilham Aliyev witnessed the exchange of an MOU on long-term crude oil supply to Dung Quat Oil Refinery between BSR, PVOIL, and SOCAR Trading Singapore. |
In the field of human resource development, Petrovietnam has been cooperating with the Institute of Geotechnology and Oil Chemistry under the Azerbaijan State Oil and Industry University since 2010. Over the 2010–2024 period, the two sides jointly conducted 27 training programs for PVN technical staff in both Vietnam and Azerbaijan. In 2025, a new advanced drilling technology training course is planned in Vietnam.
These newly signed cooperation documents are expected to solidify the strategic partnership between Vietnam and Azerbaijan, opening up substantial new opportunities for energy collaboration in the coming development phase.
