Rosneft Vietnam and Japan Drilling (JDC) have signed an agreement for using the Hakuryu-5 marine drilling rig for exploration wells offshore Vietnam.

The companies will drill two wells in blocks 06.1 and 05-3/11 in the Nam Con Son basin offshore Vietnam in 2016.

According to Rosneft, implementation of drilling works at both blocks simultaneously will ensure synergy between the two projects.

"Despite the difficult macroeconomic situation, we are expanding our cooperation in the area of exploration and production of hydrocarbons."

The drilling works will also help reduce the timelines for implementation of works and increase the efficiency of exploration activities at the company’s assets in Vietnam.

Rosneft management board chairman Igor Sechin said: "We have always welcomed participation of high technology partners from Japan in implementation of the company’s projects.

"Despite the difficult macroeconomic situation, we are expanding our cooperation in the area of exploration and production of hydrocarbons by executing contracts not only in Russia, but also in Asia-Pacific."

Rosneft is currently involved in the projects that are related to gas and condensate production and geological exploration in two blocks on Vietnamese shelf.

In block 06.1, Rosneft Vietnam owns 35% and owns 100% in block 05-3/11, serving as the project operator.

The company also has 32.67% equity in the Nam Con Son Pipeline, transporting gas and condensate from four offshore blocks in the Nam Con Son basin to power complex onshore.