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The oil and gas industry meets about 40 percent of Vietnam’s primary energy demand and plays a crucial role in the country’s national energy security. However, the sector is facing difficulties due to regulations and policies that no longer satisfy its actual development demands.

The Vietnam Oil and Gas Group (PVN) informed that Mr. Le Manh Hung - General Director has just chaired a meeting about the status of implementing ‘value chains’ in Vietnam Oil and Gas industry. At this meeting, PVN and its member units assessed the status of implementing recent ‘value chains’ and discussed and unified forward achieving goals.

The Office of the Government has just issued Document No. 6888 / VPCP-CN dated July 20, 2018 signed by the Minister, Chairman of the Government Office Mai Tien Dung to convey the opinions of the Prime Minister Nguyen Xuan Phuc for thanking the scientists and Vietnam Energy Magazine for "scientific comments and solutions to improve the efficiency of Vietnam oil and gas industry in the coming period". 

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...

Eni Vietnam B.V Operator has carried out 2 seam space test, collecting extensive data on fluid samples showing significant hydrocarbon accumulation at the Ken Bau discovery, estimated from 7 to 9 trillion cubic feet (TCF) of natural gas on the spot and about from 400 to 500 million of condensate barrels. The above oil and gas estimate reserve from 114- Ken Bau- 2X qualifying well is a historical discovery of the Vietnam Oil and Gas industry so far.

The Prime Minister Nguyen Tan Dung has agreed to supplement the Nhon Hoi Refining and Petrochemical Complex, Binh Dinh province (Victory project) to Oil and Gas industry Development Planning.

In context of facing many difficulties and challenges of of oil and gas drilling industry, PetroVietnam Drilling & Well Services Corporation (PV Drilling) continuing to receive the prize "The best Asian Drilling Contractor 2015" from World Finance at the London stock market, the Kingdom Britain recently has continued to assert the brand name value of PV Drilling. This achievement is due to processes of establishment and development in 14 recent years (November 26, 2001 - November 26, 2015) of all staffs of PV Drilling across generations, across the stages.

“PetroVietnam has past 2016 with a lot of tones of emotion. With the all things the Group has achieved in production and business we can be proud that in any circumstance, petroleum workers always maintain the will, promote internal ability and work with a creative, disciplinary and professional spirit, and express a sense of responsibility before the Party and the people” said Mr. Nguyen Quoc Khanh, PVN Party Secretary and Chairman.

In the context when the domestic gas supply is rapidly declined, the new fields have high development costs and the negotiation process of gas prices often lasts, while the demand for gas is increasing etc. It is requires Vietnam Oil and Gas Group to have synchronous solutions to ensure a long-term stable gas supply for the economy and contribute to meeting the goal on energy security of the country.

Prime Ministry has approved the Master Plan for Vietnam Gas Industry Development to 2025 with an outlook up to 2035.

With a view to increasing oil and gas reserve and discovering new fields to meet domesticdemand and export, Petrovietnam has been carrying out effective exploration and production of oil and gas both at home and abroad through PSC, JOC, JOA, BCC contracts, self-investment and self-management in exploration, making important petroleum discoveries, quickly bringing the discovered fields into production phase with the application of state-of-the-art technologies to increase production as well as oil and gas recovery rate, thus protecting the environment and natural resources.

As a part of the program of the official visit to the Russian Federation by Prime Minister Nguyen Xuan Phuc (May 20-23),  on May 22, in Moscow, PetroVietnam Exploration Production Corporation (PVEP) signed two documents including the Agreement to transfer the Lot 09-2/09 (in Cuu Long sedimentary basin of Vietnam continental shelf) and the Memorandum of Understanding (MOU) between PVEP and Zarubezneft Petroleum Company (Russian Federation).

On March 14, 2019, Deputy Prime Minister (DPM) Trinh Dinh Dung received Vice Chairman of Gazprom Group (Russia). The Vice President of Gazprom proposed to the Vietnamese Government that in the coming time, Gazprom wants to develop more new investment projects in Vietnam in the oil and gas field, from exploration, exploitation, transportation to processing and trading  products ...

The long term cooperation and the highly mutual trust between Vietnam and Russia allow the two nations’ oil and gas companies to strengthen cooperative ties, the Russian News Agency Ria Novosti quoted Foreign Ministry Spokeperson Maria Zakharova as saying on March 11.

A delegation from the Vietnam National Oil and Gas Group (PetroVietnam) headed by Chairman of its Member Council Nguyen Quoc Khanh accompanied State President Tran Dai Quang on his visit to Cambodia in mid-June. They joined many activities aiming to increase oil and gas cooperation between the two countries.