VIETNAM SAIGON OIL & GAS EXPO 2009

SPEECH 2
Mr. Phung Dinh Thu, President & CEO of PetroVietnam
His Excellency Do Huu Hao, Vice Minister of Ministry and Trade
His Excellency Dinh La Thang. Member of Central Party Committee, Chairman of Petrovietnam
Distinguished Guests,
“Vietnam Oil & Gas EXPO” is a specialized exhibition organized by Petrovietnam once every
two years in Vietnam.
On behalf of the Organizing Committee, Petrovietnam warmly welcome exhibitors from over 150
companies operating in petroleum and energy fields, from 20 countries and territories in the
world to participate in the “Vietnam Oil & Gas Expo 2009” from 29 – 31 October, 2009 in Ho
Chi Minh City – an economic centre of Vietnam. We sincerely wish you good health and wish the
Exhibition great success.
Distinguished Guests,
Following the right direction of the development strategy, in the recent time, the oil and gas
indusrty of Vietnam has made great progress, bringing Vietnam into the list of oil producers in
the world and listing Vietnam in the 3rd rank in the region in terms of crude oil production. To
date, a considerable hydrocarbon reserve has been discovered and proven. Petrovietnam has
contributes 25 to 30% of the total state budget annually.
Being a state-owned enterprise, Vietnam National Oil & Gas Group (Petrovietnam) has been
speeding up activities from exploration, production to refinery, technical services supply, storage,
processing and transportation, finance, banking and insurance. Petrovietnam has been actively
diversifying its activities into different economic fields in order to maximize the added value of
petroleum resource and develop itself as a fully integrated economic group with high
competitiveness and gradually penetrate to the world market.
So far, Petrovietnam has gained the following achievements:
a. Exploration and production (E&P):
The E&P activities are core business of Petrovietnam. Up to now, we have signed about 80
petroleum projects in different forms such as JVC, BCC, PSC, JOC, non-exclusive seismic
projects, joint study etc. Total investment for upstream activities reached 15 billion of USD.
Many large oil fields have been discovered in the continental shelf of Vietnam, allowing to retain
production rate from 15 to 17 million tons of crude oil and 8-10 billion cubic meters of gas
annually. In petroleum sector, many world large leading oil companies are now operating in
Vietnam, such as ExxonMobil, Chevron, ConocoPhillips, BP, Gasprom, Zarubezhneft, KNOC,
SK, Petronas, etc.
b. Gas – Power
Natural gas resourse has been used as feedstock for a fetilizer plant (with capacity of 740 000
tons per year, meeting about 40% domestic demand), an LPG plant (capacity of 300.000 tons per
year) and several power plants. Gas fired power plants in Vietnam, some of which are invested by