Oil & Gas

Attending the meeting on Sembcorp’s side were Mr. Jaya Ratnnam - Singapore Ambassador to Vietnam; Mr. Koh Chiap Khiong - General Director of Sembcorp Southeast Asia; Ms. Pham Thu Hang - General Director of Vietstar Training and Consulting Joint Stock Company, Director of Vietnam - Singapore High Level Forum; with the leaders of Sembcorp’s divisions. On the side of Petrovietnam, there was Mr. Bui Minh Tien - member of the Board of Directors; Mr. Pham Tien Dzung - Vice President; Mr. Nguyen Duy Giang - Deputy General Director of Petrovietnam Power Corporation (PV Power); together with representing leaders of the Group’s Divisions/ Administration Office.

In order to meet the increasing market demand from power plants, industrial and civil customers, while domestic gas sources are on the decline, the import of LNG to make up for the shortfall The shortfall is a necessary solution to ensure national energy security and serve the country's development.

Exchanging with Mr. Douglas Kelly - Chairman of USA Kellogg Brown & Root Technology Solutions Company (KBR) on June 6, in Hanoi, Mr. Hoang Quoc Vuong, Chairman of the Member Council Board of Vietnam Petroleum Group (PVN) proposed KBR apply a number of new technologies and technical solutions in the project of upgrading and expanding Dung Quat Oil Refinery plant, as well as participating in the investment to develop the Long Son Energy and Petrochemical Complex.

On 24th May 2022, at the headquarters of Vietnam National Oil and Gas Group (Petrovietnam), Chairman of the Board of Directors Hoang Quoc Vuong had a meeting and worked with the delegation of the Global Wind Energy Council (GWEC) led by Mr. Mark Hutchinson - Chair of the Southeast Asia Task Force.

On the occasion of visiting and working in the United States, in Washington, D.C., Prime Minister Pham Minh Chinh received Mr. Roger Jenkins - General Director of Murphy Oil (USA).

On May 9, 2022, during a business trip to the US, Vietnam Oil and Gas Group (PVN) and Binh Son Refining and Petrochemical Joint Stock Company (BSR) had working sessions with partners/suppliers of crude oil in Houston (USA).

On the afternoon of March 16, Prime Minister (PM) Pham Minh Chinh chaired a working meeting with the Vietnam Oil and Gas Group (PVN) on the production and business situations of the group in 2021, the first two months of 2022 and in 2022.

At the meeting with Mr. Ashish Kumar - General Director of India Essar Group (India), Mr. Le Manh Hung - General Director of the Vietnam Oil and Gas Group (PVN) proposed researching the development of cooperation between this group and Dung Quat Oil Refinery to research developing an integrated petrochemical project with the overall development orientation of using gas - condensate from the Ken Bau field.

Deputy Prime Minister Le Van Thanh, Head of the State Steering Committee for the key oil and gas projects has just signed Decision No. 11/QD-BCDNNDK dated January 19, 2022 promulgating the Operational Regulations of the Steering Committee for assisting the Government and Prime Minister to direct implementing the key oil and gas projects.

On the occasion of accompanying National Assembly Chairman Vuong Dinh Hue to pay an official visit to the Republic of India, on the afternoon of December 16, 2021, Mr. Le Manh Hung - General Director of Vietnam Oil and Gas Group (PVN) had a meeting with Mr. Rajesh Kamath - CEO of Thyssenkrupp Group, India branch (Thyssenkrupp Industrial Solutions - TKIS). At the meeting, the two sides discussed opportunities to expand fields in the following stages of the oil and gas industry such as: petrochemical refining technology, fertilizers, fiber, green energy...

Within the framework of the recent business trip to the Russian Federation of the Vietnam Oil and Gas Group (PVN), the leaders of Russia Petroleum Company Zarubezhneft and PVN deliberated the cooperation to invest in developing the West Yereagin Oil field project (Russia).

The Vietnam Oil and Gas Group (PVN) informed that in the recent official visit to Japan by Prime Minister Pham Minh Chinh, the PVN mission had a working meeting with Japanese partners. PVN mission discussed and exchanged with JX NOEX issues related to oil and gas activities in the Petroleum Product Sharing Contract (PSC) of Lot 15-2 and the plan for deploying this project after 2025 (at the end of PSC).

On November 18 in Hanoi, Vietnam Oil and Gas Group (PVN) and the Asian Development Bank (ADB) signed a Memorandum of Understanding (MOU) on building a strategic partnership in 2021 – 2024 years to promote clean and sustainable energy development in Vietnam, as well as support PVN to achieve the green energy transition goal. Specifically, the two sides will cooperate in strategy, a roadmap for green energy transition, carbon capture, use and storage; developing hydrogen industry and offshore wind power projects.

At 2:15 on October 13, 2021, Ca Tam (Sturgeon) field after exploitation by nearly 2 years and 9 months has reached the oil production of 01 million tons, oil turnover of 427.5 million US$ and budget payment of 169 million US$.

In the first eight months of 2021, gas demand for power generation declined due to the impact of the Covid-19 pandemic that negatively affected state budget revenues and the economy, as well as implementation of the national energy strategy.