Oil and gas exploitation on Bach Ho field
Miraculous development!
November 27.11.1961, XNUMX, organized Oil and Gas first in Vietnam - The oil exploration team was established and it was not until 1986 that the first ton of crude oil was exploited. To date, oil and gas exploitation output reaching about 430 million tons and about 180 billion m3 gas. Every year, Petrovietnam supplies 9 - 11 billion m3 Gas produces 35% of national electricity output; 70% of nitrogen output and 70 - 80% of gas for residential consumers nationwide. In the petroleum sector, Dung Quat Oil Refinery is supplying 30% of domestic petroleum demand, especially meeting the fuel requirements of the Ministry of Defense...
In particular, in 2022, Petrovietnam will set a record for crude oil exploitation output with 8,98 million tons; produced 1,88 million tons of nitrogen fertilizer, exported 606.000 tons, contributing 37,4% of fertilizer export turnover; Petroleum production meets about 75% of domestic petroleum demand...
Oil and gas workers
Photo: Nguyen Truong Son
Petrovietnam has trained a strong and highly qualified workforce. More than 30 years ago, the Vietnam - Russia Joint Venture (Vietsovpetro) had to move the rig base from Baku (Azerbaijan) to install it offshore Ba Ria - Vung Tau province to explore and exploit oil and gas at Bach Ho field. But now, the oil and gas industry can manufacture, install, and operate oil and gas exploration and exploitation rigs on its own in absolute safety on the Vietnamese continental shelf. Petroleum mechanical products are exported, bringing large foreign exchange earnings to the country.
The "leading" role of the economy is confirmed to contribute 20 - 25% of total state budget revenue in the period 2006 - 2015 and 18 - 25% of the country's GDP. After 2015, Petrovietnam continuously faced a series of challenges and difficulties due to economic instability, pressure from a deep drop in oil prices, the Covid-19 pandemic, geopolitical conflicts, and chain breaks. global supply... But Petrovietnam still contributes an average of 10 - 13% of the country's GDP; accounting for 9 - 11% of total state budget revenue and 16 - 17% of total central budget revenue. In particular, budget contributions from crude oil account for 5-6% of total state budget revenue. Accordingly, oil and gas has become a special economic sector and an important macroeconomic regulation tool of the Government.
Panorama of Ca Mau Gas - Electricity - Fertilizer Industrial Park
Firmly enter a new phase
In the context of negative impacts of the macro economy, geopolitics, and markets, in the first 10 months of this year, Petrovietnam comprehensively completed financial targets, reaching the finish line 1,5 - 5 months ahead of schedule. year plan.
The year 2023 recorded a series of important milestones Petrovietnam. For the first time in a year, Petrovietnam has had 2 new oil and gas discoveries at Block 16-2 (Hapa Vang -1X well) and at PM3-CAA block (Bunga Lavatera-1 well). In addition, Petrovietnam and other Partners have signed related contracts and implemented the Block B - O Mon project chain, which is the most important event, marking an important step forward in the key gas and power project chain that has lasted nearly 20 years. At the end of October 10.2023, Thi Vai liquefied natural gas (LNG) terminal with capacity of 1 million tons/year was inaugurated. This is the first and largest LNG warehouse in Vietnam, marking a breakthrough for Petrovietnam in diversifying products, new energy, expanding markets, meeting the goals of ensuring energy security and transitioning and greening national energy resources.
In addition, the high-quality oil and gas services segment also made an impression when PTSC - the main service unit of Petrovietnam - became the first and only investor in Vietnam licensed by the Ministry of Natural Resources and Environment to develop Deploying monitoring, investigation, survey and assessment activities of marine resources to develop offshore wind power projects, serving the development of offshore renewable energy projects in Vietnam, exporting clean electricity to Singapore. This is also one of the important projects contributing to realizing the memorandum of understanding to build a green economy - digital economy partnership between Vietnam and Singapore, joining hands to complete the goal of achieving 6 GW of offshore wind power by 2030 of Power Plan VIII, as well as the Net Zero commitment of the Vietnamese Government at COP26...
Vietnam's first LNG import ship arrives at Thi Vai port warehouse
It can be affirmed that the efforts of Petrovietnam and its member units in recent years have always been closely linked to the goals and aspirations of realizing Petrovietnam's Development Strategy with the strategic orientation of national energy development and the national energy development strategy. the country's socio-economic development strategy; contributing to ensuring national energy security, while emphasizing the concept of using resources economically and effectively, associated with protecting the ecological environment; proactively implement solutions to mitigate and adapt to climate change; promote the search and development of new energy, renewable energy... In the first 10 months of 2023, total revenue of Petrovietnam will reach 745.000 billion VND, exceeding 10% of the whole year plan, reaching the target 2 months ahead; Petrovietnam's entire state budget contribution reached 121.000 billion VND, exceeding 54% of the yearly plan, reaching the finish line 5 months ahead...
