Vietnam plays the prioritized role in the activities of Zarubezhneft JSC. The most effective project of Zarubezhneft is JV Vietsovpetro, that was established in 1981. in accordance with the Intergovernmental Agreement on a parity basis with Oil and Gas Corporation Petrovietnam.

Block 42 is located in the oil/gas bearing basin Phu Quoc within the limits of the Gulf of Siam in 400-450 km to the West from Vung Tau.
Prospects are connected with the Paleozoic-Mesozoic complex.
Signed the first oil contract on PSA terms. In the stage of preparation is a “Cooperation agreement” between Vietsovpetro and the company PVEP (a subsidiary of Petrovietnam).