Closely follow the progress and resolutely implement the Dung Quat Refinery Refinery NCMR Project

On October 29, at Dung Quat Oil Refinery, a working delegation of the Vietnam National Energy Industry Group (PetroVietnam) led by Mr. Bui Minh Tien - Member of the Board of Members and Mr. Le Xuan Huyen - Deputy General Director co-chaired a working session with Binh Son Refining and Petrochemical Joint Stock Company (BSR) on the progress of the Dung Quat Oil Refinery Upgrading and Expansion Project (NCMR).

Attending the online meeting at the Group's bridge point were Deputy General Director Duong Manh Son and representatives of the Group's professional departments. On the BSR side, there were Mr. Bui Ngoc Duong - Chairman of the Board of Directors, Mr. Nguyen Viet Thang - General Director, along with members of the Board of Directors, Board of Directors, Factory Board of Directors, Dung Quat Refinery NCMR Project Management Board and representatives of the Company's functional departments.

At the meeting, Deputy General Director of the Group Le Xuan Huyen requested BSR to closely follow the progress, proactively remove difficulties, speed up important work milestones, and ensure the project is implemented safely, with quality and efficiency.

Petrovietnam leaders work at BSR to promote Dung Quat Refinery NCMR project

According to BSR's report, the site leveling work is being carried out in line with the plan. The company is actively coordinating with the authorities to remove obstacles and ensure the site leveling progress will be carried out from January 2026 to October 2026.

Regarding the EPC package, the Project Management Board organized a communication conference, introduced the project and provided documents and files to interested contractors. In early September 2025, BSR's Board of Directors approved the scope of work, estimates and bidding documents of the EPC package. On September 3, 2025, BSR posted the Invitation to Bid and Bidding Documents (BID) on the National Bidding Network. According to the plan, the time for contractors to prepare the Bidding Documents (BID) is 90 days, the expected closing/opening date is December 3, 2025.

As of October 28, 2025, BSR has received 22 requests for clarification of the Bidding Documents from bidders with 965 questions. The Company has completed answering 21 requests with 963 questions, and at the same time publicly disclosed the entire content on the national bidding network.

BSR is proactively implementing many solutions to manage and control the progress and costs of EPC packages, including developing scenarios, situations and risk handling solutions; developing a list of cost-optimized items and solutions to optimize EPC implementation progress.

BSR Deputy General Director Tran Thai Bao reported on project progress.

At the same time, capital arrangement work is also being promoted to ensure financial resources for the EPC implementation phase.

According to the master plan, BSR will carry out the selection of EPC contractors from September 2025 to March 2026, implementing the EPC contract within 37 months. The project is expected to start trial operation in 2028.

At the meeting, Mr. Bui Minh Tien - Member of the Board of Members and Mr. Le Xuan Huyen - Deputy General Director of Petrovietnam had a frank discussion with BSR about the remaining bottlenecks, from site clearance, EPC bidding to capital arrangement, and at the same time proposed many solutions to shorten the progress and improve project efficiency.

In his speech, Mr. Bui Minh Tien highly appreciated the proactive spirit of BSR and the Project Management Board in the recent past, which have actively implemented and achieved important milestones of the project. However, in order for the project to go on schedule, the Company and the Project Management Board are required to continue to closely follow the Group's instructions, closely coordinate with consultants and contractors, make detailed plans, clearly assign tasks, and strictly control progress to ensure absolute quality and safety.

Mr. Bui Minh Tien also requested BSR and the Project Management Board to focus on strictly controlling investment costs, ensuring economic efficiency, and at the same time carefully preparing for the EPC construction phase so that the Project can be implemented on schedule and achieve the highest efficiency.

BSR Chairman Bui Ngoc Duong thanked the Group's leaders for their attention and close direction for the Project and affirmed that BSR deeply understands that this is a key project of strategic significance not only to the Company but also to the Energy - Oil and Gas industry and national energy security.

Mr. Bui Ngoc Duong also said that in the coming time, BSR will mobilize maximum resources, strengthen coordination with the Group's units, state management agencies and local authorities to remove and completely handle existing problems and prepare for the EPC implementation phase. At the same time, the Company will promote project management, apply advanced management tools to strictly control progress, costs and quality.

Chinh Linh

Source: https://bsr.com.vn/web/bsr/-/bam-sat-tien-do-quyet-liet-trien-khai-du-an-ncmr-nmld-dung-quat