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| Chairman of the Board of Directors of PetroVietnam, Hoang Quoc Vuong, listens to a presentation about the offshore wind power project at the PTSC Oil and Gas Service Port, Ba Ria - Vung Tau province. (Source: PVN) |
In late August 2023, within the framework of the Vietnam-Singapore Investment Cooperation Project Promotion Conference, in the presence of Vietnamese Prime Minister Pham Minh Chinh, Singaporean Prime Minister Lee Hsien Loong, representatives from ministries and agencies of both countries, and leaders of PetroVietnam, the Vietnamese Ministry of Natural Resources and Environment issued a Decision approving the monitoring, investigation, survey, and assessment of marine resources (survey permit) to a member unit of PetroVietnam, in preparation for the development of an offshore renewable energy project in Vietnam, exporting clean electricity to Singapore.
Speaking at the event, Singapore Prime Minister Lee Hsien Loong emphasized that Vietnam and Singapore have established a "Digital Economy - Green Economy Partnership," creating conditions to promote cooperation in new areas, aiming for green and sustainable development such as renewable energy, science and technology-based innovation.
The fact that the PTSC (PetroVietnam) – Sembcorp (Singapore) joint venture's offshore renewable energy development project has received the relevant licenses within the framework of the program demonstrates the confidence of the two governments in businesses to promote cooperation in renewable energy development.
With the granting of the survey license, PTSC is now the first and only investor in Vietnam licensed by the Ministry of Natural Resources and Environment to carry out monitoring, investigation, surveying, and assessment activities of marine resources for the development of offshore wind power projects in particular and offshore renewable energy in general.
This event also demonstrates the trust of the Party and Government leaders in PetroVietnam and its member units in this new field in Vietnam.
This confidence is firmly rooted in PetroVietnam's available resources. After the reunification of the country, with the establishment of the General Department of Oil and Gas (the predecessor of PetroVietnam) on September 3, 1975, PetroVietnam was tasked with conducting oil and gas exploration and surveying throughout Vietnam, including 2D and 3D offshore exploration and surveying to map oil and gas resources and identify potential areas for oil and gas development.
A history of 48 years of applying science and technology and carrying out activities at sea has created a wealth of knowledge and experience to successfully fulfill its mission as the only unit capable of shouldering the pioneering responsibility in a field that requires large resources, modern technology, and a high-quality workforce.
It can be said that, alongside the navy, coast guard, and fishermen, those working in the oil and gas industry are the most familiar "warriors" with the sea. From designing oil rigs to constructing, installing, managing, and operating offshore structures, PetroVietnam and its member units have effectively implemented these tasks since the 1980s and 1990s.
Furthermore, with the continuous development of science and technology, oil and gas workers have gradually accumulated experience, mastered technology, and have independently manufactured, installed, and operated oil and gas facilities on the Vietnamese continental shelf.
Furthermore, PetroVietnam's branded mechanical products have been exported worldwide, contributing significantly to the country's foreign exchange earnings. This also marks a crucial turning point for the oil and gas industry, ushering in a new phase of development and opening up new opportunities for PetroVietnam.
In Vietnam, the renewable energy industry is newly formed and has enormous potential. Therefore, if there are development policies, it will create favorable conditions for industrial enterprises to participate, helping to form a market and a supporting industry in this field.
Experts believe that, with its geographical advantage of a coastline stretching over 3400 km, the Hoang Sa and Truong Sa archipelagos, as well as numerous islands and islets located within the exclusive economic zone, form a good foundation for exploiting and utilizing offshore wind energy – especially in electricity production.
A World Bank study has indicated that Vietnam's potential offshore wind power capacity is approximately 475 GW, with favorable wind conditions concentrated in the central, south-central, and parts of the northern coastal regions.
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