PetroVietnam pioneers in developing offshore renewable energy

Not only playing an important role in the oil and gas sector, PetroVietnam also strives to participate in the new energy industry, creating a foundation for the wind power support industry.

PetroVietnam Chairman Hoang Quoc Vuong listens to an introduction about the offshore wind power project at PTSC Petroleum Services Port, Ba Ria - Vung Tau province. (Source: PVN)

At the end of August 2023, within the framework of the Conference to promote the implementation of Vietnam - Singapore investment cooperation projects, witnessed by Vietnamese Prime Minister Pham Minh Chinh, Singaporean Prime Minister Lee Hsien Loong and representatives of the leaders of the two countries' ministries/sectors and leaders of PetroVietnam, the Vietnamese Ministry of Natural Resources and Environment granted the Decision on approval of marine resource monitoring, investigation, survey and assessment activities (survey license) to a member unit of PetroVietnam, to prepare for the development of offshore renewable energy projects in Vietnam, exporting clean electricity to Singapore.

Speaking at the event, Singaporean 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, towards green and sustainable development such as renewable energy, based on science, technology, and innovation.

The fact that the PTSC (PetroVietnam) – Sembcorp (Singapore) Offshore Renewable Energy Development Project received relevant licenses within the framework of the program has demonstrated the trust of the two governments in businesses in promoting cooperation in renewable energy development.

With the survey license, PTSC is currently the first and only investor in Vietnam licensed by the Ministry of Natural Resources and Environment to carry out activities of monitoring, investigating, surveying, and evaluating marine resources to develop 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 trust has a solid foundation, originating from the available resources of PetroVietnam. After the country was unified, with the establishment of the General Department of Petroleum and Gas (the predecessor of PetroVietnam) on September 3, 1975, PetroVietnam was assigned the task of conducting oil and gas surveys throughout Vietnam, including conducting 2D and 3D surveys at sea to conduct oil and gas mapping and identify potential areas for the oil and gas industry to develop.

48 years of history in applying science and technology and implementing activities at sea have created a wealth of knowledge and experience to successfully complete the task of being the only unit capable of shouldering the pioneering responsibility in implementing a field that requires large resources, modern technology and high-quality human resources.

It can be said that, besides the navy, coast guard and fishermen, the Oil and Gas people are the most familiar “warriors” with the sea. From designing drilling rigs to constructing, installing, managing and operating marine works, PetroVietnam and its member units have effectively deployed since the 80s and 90s of the last century.

Besides, with the continuous development of science and technology, oil and gas workers have gradually accumulated experience, mastered technology, and have manufactured, installed, and operated oil and gas projects on the continental shelf of Vietnam.

Not only that, mechanical products manufactured under the PetroVietnam brand have been exported to the world, contributing to bringing in large foreign currency revenue for the country. At the same time, it marked an important turning point of the Oil and Gas industry into a new stage of development, opening up new opportunities for PetroVietnam.

In Vietnam, the renewable energy industry is newly formed and still has great potential. Therefore, if there is a development policy, it will create conditions for industrial enterprises to participate, helping to form the market and the supporting industry in this field.

Experts say that with the geographical advantage of a coastline of more than 3,400 km, the two archipelagos of Hoang Sa and Truong Sa, as well as countless islands and islets located in the exclusive economic zone of the sea, create a good foundation for the exploitation and use of offshore wind energy - especially in electricity production.

Research by the World Bank has shown that the potential capacity of offshore wind power in Vietnam is about 475 GW, of which good wind is concentrated in the Central, South Central and part of the Northern coastal regions.

Source: https://baoquocte.vn/petrovietnam-tien-phong-phat-trien-nang-luong-tai-tao-ngoai-khoi-247725.html