Gazprom says joins offshore projects in Vietnam

MOSCOW, April 5 Thu Apr 5, 2012 2:28pm BST



MOSCOW, April 5 (Reuters) - - Russia's top gas producer Gazprom said on Thursday it has joined a project to develop offshore gas in Vietnam.

Gazprom said it secured 49 percent in a production sharing agreement with Vietnam's state oil monopoly Petrovietnam to develop blocks 05.2 and 05.3 in the South China Sea.

Reserves of two gas condensate fields, Hai Tinh (block 05.3) and Hai Thach (block 05.2 and 05.3), as well as Kim Cuong Tay oil field (block 05.2), are estimated at 55.6 billion cubic metres of gas and 25.1 million tonnes of gas condensate. (Reporting by Vladimir Soldatkin; editing by Alfred Kueppers)


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.