Petrovietnam Party Committee: Don't miss the "train" of digital transformation and innovation

Petrovietnam accelerates and strengthens the application of science and technology, digital transformation, and innovation in management and operational administration in a synchronous manner.

Aspiration to modernize for the nation

Digital transformation and innovation are not simply technical solutions but manifestations of a strategic development mindset. Recognizing that, the Petrovietnam Party Committee has identified digital transformation and innovation as a key and urgent task in leadership in the face of rapid changes in technology and the trend of global business model transformation, and at the same time, as a foundation for sustainable development.

Right from the beginning of the 2020-2025 term, the Group's Party Committee determined that it could not miss the "train" of digital transformation and innovation by issuing Resolution No. 184-NQ/DU dated February 15, 2022 on implementing digital transformation by 2025, with a vision to 2030. Decisions to consolidate the Group's Digital Transformation Steering Committee have been issued consecutively, ensuring connectivity and effectiveness in direction.

Next, thoroughly grasping Resolution No. 57-NQ/TW dated December 22, 2024 of the Politburo on breakthroughs in science and technology development, innovation and national digital transformation; along with resolutions, directions and orientations of all levels on science and technology development, innovation, digital transformation, as well as development orientations for the energy sector, oil and gas sector and Petrovietnam in the coming period; the Standing Committee of the Party Committee of the Group unanimously issued Resolution 951-NQ/DU on breakthroughs in science and technology development, innovation and digital transformation, creating new momentum, improving labor productivity and competitiveness for the Group to make a breakthrough, grow at a double-digit rate, to focus on leadership, direction, and create high consensus from the parent company to enterprises and units in the Group; mobilizing the entire political system of the Group, from cadres, party members to employees in the process of organizing and implementing.

Currently, Petrovietnam is not only a Group with "strong potential and high governance", but also a model of a state-owned enterprise model led by the Party in a comprehensive manner, with strong innovation, pioneering for the nation, not only stopping at political orientation but also being concretized by the Party Committee of the Group in all decisions.

In the process of strategic transformation into Vietnam National Industry and Energy Group, in addition to traditional energy sectors, Petrovietnam aims to pioneer in energy transition, from developing renewable energy, LNG electricity, green hydrogen to promoting internal science and technology, innovation, digital transformation to ensure national energy security.

Petrovietnam aims to build and modernize energy industry infrastructure, including port warehouse systems, transmission pipelines, large-scale energy storage facilities, and develop smart grids integrating digital platforms in energy management.

Under the consistent leadership of the Party Committee, Petrovietnam has implemented digital transformation in a systematic and unified manner throughout the system, identifying it as a top priority task to improve productivity, quality, efficiency and competitiveness.

As one of the national economic locomotives, Petrovietnam has built a digital vision with the orientation: Digital transformation supports and promotes the process of shifting business models, optimizing operating methods and improving operational management capacity across the Group.

Under the unified direction of the Party Committee, Petrovietnam has implemented a methodical digital transformation strategy with 6 key solution groups: building a big database (Big Data), applying artificial intelligence (AI), Internet of Things (IoT), cloud computing (Cloud), and automating operations and exploitation.

One of the focuses is the creation and exploitation of digital resources, especially the construction of a Centralized Digital Platform (DCP) through the collection and standardization of real-time data, focusing and applying data science to improve management and exploitation efficiency.

The application of digital platforms has permeated from the Group to its member units, from offshore wells to the system of petrochemical, gas, electricity and technical service refineries.

Digital transformation helps Petrovietnam increase production efficiency, reduce costs, improve safety and environment, better forecast market trends and make quicker decisions. In particular, in areas such as oil and gas exploration, exploitation, and rig technical management, Petrovietnam has approached regional levels, even on par with some of the world's largest energy corporations.

Not only a matter of technology, digital transformation at Petrovietnam is also associated with institutional reform, building a modern, transparent and flexible governance model.

The Party Committee of the Group identifies institutions, organizations, and people as the pillars for successful and sustainable digital transformation. Petrovietnam has been promoting the integration of modern technology solutions into all aspects of operations, from management to production and business. This process is taking place strongly and synchronously in both the parent company and its member units.

The extensive application of digital transformation to change the business model has helped Petrovietnam break revenue records for 3 consecutive years, surpassing the 1 million billion VND mark by the end of 2024, a 36% growth compared to the period before the Covid-19 pandemic (2019) and equivalent to about 9% of the country's total GDP.

The Group has paid the State Budget 165,000 billion VND, an increase of 52% compared to the period before the Covid-19 pandemic. This result contributed to helping Petrovietnam complete the 5-year production and business plan (2021-2025) early, exceeding by 6-32%. Not only leading in revenue and profit in the state-owned enterprise sector, Petrovietnam also saves thousands of billions of VND each year and makes a great contribution to the country's social security.

Endogenous resilience for sustainable development

Closely linked to digital transformation is innovation - an indispensable piece to create breakthrough momentum. The Group's Party Committee plays a key political role in leading, orienting, creating mechanisms and spreading a culture of innovation throughout the system.

Petrovietnam has built an innovation ecosystem with the active participation of engineers, scientists, technology experts, especially young people. Competition programs for initiatives and inventions are widely organized, contributing to saving thousands of billions of VND each year. Petrovietnam also promotes scientific research and international cooperation, orienting in-depth training for the future energy industry.

Some typical member units such as Binh Son Refining and Petrochemical Joint Stock Company (BSR) have established an Innovation Center, opening a specialized space to realize scientific and technological ideas into production.

Vietnam Petroleum Institute (VPI) - as the leading scientific research unit of Petrovietnam - has made many important contributions to the research and application of new technologies. VPI has successfully introduced products to help improve oil recovery (EOR), clean fuel, VPI EOR Screening software...

Bien Dong Oil and Gas Operating Company (Bien Dong Poc) has pioneered the application of AI in predictive maintenance (PdM) systems for critical equipment. PetroVietnam Exploration and Production Corporation (PVEP) has also applied advanced technologies such as convolutional neural networks (CNN-HampsonRussell) for quantitative seismic analysis and AI in studying the characteristics of reservoir rocks in mine blocks...

Petrovietnam also organized many Group-level seminars on strategic technology orientation and solutions to promote science-technology - innovation, identifying priority strategic technologies such as: new energy technology (hydrogen, nuclear batteries...), super carbon materials, AI, big data, deep sea technology, digital construction applications (Digital Factory)...

Under the leadership of the Group's Party Committee, Petrovietnam has established breakthrough mechanisms to promote science and technology programs through fair and competitive remuneration; sharing risks for unsuccessful research; encouraging progressive thinking, creating strong motivation for research, innovation, and science and technology activities.

Thanks to this support, Petrovietnam has had many youth projects awarded the Business Development Innovation Award: in 2022 there were 8 topics, in 2024 there were 3 topics.

Petrovietnam also constantly improves its research and application potential of science and technology, proactively absorbs advanced techniques and technologies, promotes creativity, optimizes the efficiency of existing technologies to reach a level equal to that of oil and gas companies in the region and the world.

Hundreds of awards have been presented for scientific and technological achievements in the oil and gas industry, including many projects and clusters of projects that were honored with the Ho Chi Minh Prize, the State Prize for Science and Technology, the VIFOTEC Prize, etc.

Not stopping at technology investment, Petrovietnam also focuses on building an effective culture, linking innovation, digital transformation with human development - this is the consistent philosophy in the action programs of the Group's Party Committee.

The Group has strongly implemented internal communication on digital transformation, organized digital knowledge training courses for cadres, party members and employees. Along with that are digital management solutions through deploying the Enterprise Resource Planning (ERP) system, digitizing the internal management regulations, digitizing Petrovietnam's data throughout the Group, building a shared data platform, and synchronizing the enterprise database.

Petrovietnam also focuses on international cooperation in cutting-edge technology fields, training high-quality human resources for the future energy industry, promoting links between businesses-research institutes-innovation startups.

Petrovietnam Party Committee always identifies digital transformation and innovation as not a destination, but a continuous journey. In that journey, Petrovietnam - with the guidance of the Group's Party Committee - is gradually affirming its leading role in the new energy industry era, laying the foundation for sustainable national prosperity on the basis of knowledge, technology and national aspirations.

This is the basis for the Group to grow sustainably at a "double-digit" rate, reaching out to become a National Industry-Energy Group with strong potential, modern management, regional and international competitiveness, and being in the list of the world's top 500 enterprises (Fortune Global 500).

"All units in Petrovietnam need to take advantage of the power of the times, apply science and technology to create synchronization, form a common database; focus on accelerating and promoting the application of science and technology, digital transformation, innovation in management, administration and operation in a synchronous manner from the Group's parent company to its member units; apply 100% of the "electronic office" model throughout the Group.

At the same time, promote the development of core technology to serve the strategic goals of the oil and gas industry, apply technology and innovation to develop the industry; identify scientific research as a key and essential solution in implementing tasks in the coming years to increase productivity, create products with higher value to ensure revenue, profit and strategic goals in the transformation of the Group". Le Manh Hung , Party Secretary, Chairman of the Board of Members of Petrovietnam.