New driving force for sustainable development of Vietnam's Oil and Gas industry

Offshore wind power base construction site at PTSC port. Photo: Provided by Vietnam Oil and Gas Group

The trend is irreversible.

In the context of the energy industry undergoing landmark changes, the irreversible energy transition (EDT) trend poses many urgent requirements for the operations of the Vietnam Oil and Gas industry in general and the Vietnam Oil and Gas Group ( Petrovietnam ) in particular.

To facilitate sustainable development, the policy allows Petrovietnam to participate in the new energy and renewable energy (RE) value chain, especially developing offshore wind power (WPP) projects.

The emerging sector as one of the sectors with the greatest development potential plays a key role and is an inevitable and irreversible trend globally.

This transition has been happening so fast and so powerfully that any energy corporation/country that is slow will be left behind.

In Vietnam, enterprises capable of participating in renewable energy projects must be large corporations and groups with experience and strong financial potential. Currently, Petrovietnam and Vietnam Electricity Group (EVN) are capable of piloting the development of renewable energy projects.

Petrovietnam is making efforts to develop GHG projects in Vietnam. Photo: PVN.

Petrovietnam is a state-owned enterprise with great potential, prestige, and experience in the energy sector, especially offshore oil and gas; has technology and the ability to arrange capital more conveniently than other enterprises.

Currently, Petrovietnam is one of the leading state economic groups, playing a key role and position in the economy, contributing to ensuring energy security, economic security, food security as well as participating in and contributing to ensuring national security and sovereignty at sea.

Petrovietnam's strength when participating in CDNL in general and DGNK in particular is that it is the only enterprise in Vietnam that has national seabed geological data collected and stored during the process of surveying, searching and exploring oil and gas.

Petrovietnam has the necessary capacity to provide survey services (seabed survey, physical engineering survey...) which are regularly performed work items in oil and gas activities and pre-feasibility studies for GHG projects.

During the construction and installation phase, Petrovietnam has a large design team and is equipped with specialized copyrighted software.

Petrovietnam has been carrying out all design stages from drafting plans, to basic design, detailed design, construction design for offshore exploitation projects and is fully capable of undertaking design items for offshore oil and gas projects.

Foundation and solid steps

Petrovietnam owns almost complete infrastructure and equipment to serve the petroleum industry with large-scale ports and manufacturing yards such as Sao Mai - Ben Dinh port, Vietsovpetro, PTSC M&C, PVShipyard, Dung Quat, Nghi Son, Dinh Vu.

Petrovietnam units such as: Petroleum Technical Services Corporation (PTSC), Vietsovpetro Joint Venture (VSP)... currently own and manage a fleet of nearly 100 service vessels, diverse in capacity and type, operated entirely by a team of competent and experienced Vietnamese crew members who can well meet the requirements of GNGNK projects.

Construction site of the DGNK jacket at PTSC port. Photo: PVN.

Petrovietnam also has strong financial capacity, manages many large capital projects, has mutual linkages in the oil and gas value chain, and has extensive cooperative relationships with foreign partners in the energy sector.

In the past time, Petrovietnam units such as Vietsovpetro and PTSC have signed memorandums of understanding, confidentiality agreements, bilateral cooperation agreements, and survey/service provision contracts with oil and gas investors around the world.

Petrovietnam has received many proposals from large corporations in the world such as Equinor, Orsted, CIP, Macquarie to cooperate in developing GHG projects in Vietnam.

Petrovietnam has now signed a memorandum of understanding with Equinor and CIP (Denmark) to study opportunities for developing GHG and other clean energy sources in Vietnam.

Petrovietnam's capacity in the field of wind power has been proven in recent years, when PTSC - a member unit of the Group - has proactively participated in providing wind power and wind power services to many domestic and foreign contractors and has achieved current successes.

Along with PTSC, Vietsovpetro is also one of the units identified as having a lot of potential and strengths to participate in the field of GHG emission reduction.

Source: https://laodong.vn/kinh-doanh/dong-luc-moi-cho-nganh-dau-khi-viet-nam-phat-trien-ben-vung-1387134.ldo