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The State Bank has issued the Circular No 312/2018/TT-NHNN on introductions for managing the foreign exchange in the offshore petroleum investment.

Information from the Vietnam Oil and Gas Group (PVN) shows: In the coming time, PVN will continue carrying overseas oil and gas searching, exploring and exploiting activities by the careful steps, suitable with the financial and management capacities of the Group, on the principle of "efficiency" and "good management for the risks" ... 

Thanh Hoa Provincial People’s Committee (PPC) has agreed the policy for PetroVietnam (PVN) to invest the project of harbor and universal petroleum services in Nghi Son Economic Zone. The project with a total investment level of VND 595 billion occupies about 54.9 ha in Nghi Son commune, Tinh Gia district, Thanh Hoa province.

According to the information from Japanese Idemitsu Kosan Company on Aug 21, the company has founded a new oil and gas mine at the fourth explorative well in the lots of 05-1b and 05-1c offshore Southern Vietnam.

In the report to the National Steering Committee for Electricity Development, Electricity of Vietnam (EVN) proposed a mechanism to assign state corporations for the pilot investment in offshore wind power projects (There is reason to invest in the areas related to the national security, new technology and complex construction). On the experience basis, the Government should direct to establish a mechanism to select investors in the form of socialization.

On March 2, 2022, in Hanoi, Mr. Hoang Quoc Vuong, the Chairman of the Member Council of Vietnam Oil and Gas Group (PVN) and Mr. Mark Green - Chairman of the Asia-Europe region of AES Corporation (USA) discussed cooperation in developing offshore wind power and hydrogen projects in Vietnam.

Recently, in Hanoi, Mr. Tran Dinh Nhan - General Director of Electricity of Vietnam (EVN) worked with the Mission of Copenhagen Infrastructure Partners - CIP from Denmark headed by Mr. Robert Helms – the Member and Director of the New Market Fund offshore wind power (under CIP). At the meeting, the Danish partners proposed that EVN cooperate in developing a number of large offshore wind power projects and the power transmission grid.

Minister of Industry and Trade Vu Huy Hoang underlined the Ministry of Industry and Trade (MOIT)’s opinion that electricity and petroleum prices must be publicized and transparent on a Vietnam Television Q&A session on May 11.

The Vietnamese petroleum industry has collaborated with high-level domestic research and consulting agencies to successfully conduct a good number of R&D (research & development) projects, resulting in important economic effects and regional and global significance.

Tam Dao 05 lift off rig with a localization rate of 39% as a largest offshore project made in Vietnam so far  can operate in condition of above 12 degree storm. After 30 month manufcturing the rig has been handed over to Vietsopetro investor.

On 23 May 2016, in Hanoi, Vietnam Oil and Gas Group (PetroVietnam) signed memorandums of understanding (MOU) with US large Petroleum Honeywell and Murphy Companies.

From April 6th to 8th April 2014, the second meeting term of the Inter-government Committee on Vietnam - UAE cooperation was held in Abu Dhabi Capital and Dubai City of the United Arab Emirates (UAE).    

In the coming period, besides promoting search, exploration and exploitation of petroleum in deep-water, offshore areas in association with the national sovereignty protection at the sea in accordance with the development orientation of Vietnam’s Petroleum Industry to 2030, with a vision to 2045 approved by the Prime Minister, Vietnam Oil and Gas Group (PVN) will actively study to search for and explore non-traditional hydrocarbons (hydrate, coal gas, shallow gas, shale gas ...) to increase petroleum reserves for the country.

The Government has just issued Decree 25/2019 / ND-CP on amending and supplementing a number of articles of Decree No.13/2011/ND-CP dated February 11, 2011 of the Government on the safety of the onshore petroleum projects. This revised Decree pays special attention to the safe distance for the petroleum depots and petroleum products and the measures to protect oil and gas projects.

On August 9, 2018, PetroVietnam informed that Vietsovpetro has discovered a new petroleum well – Meo Trang Dong (East White Cat) – 1X (Lot 09-1,VSP). After this discovery, the relevant units will carry out the assessment of reserves and prepare the plan for putting the project into operation.