After 49 years of construction and growth, Vietnam Oil and Gas Group (Petrovietnam) is facing new opportunities and new fortunes to change itself - to become a national industrial-energy group.
Bring the jack-up rig into the drilling site.
Looking back on the 49-year journey of construction and development, the leadership and employees of Petrovietnam through the ages have the right to be proud of what they have contributed to the socio-economic development of the country.
Born right after the country was completely unified, from the genius premonition of President Ho Chi Minh, in the midst of difficulties and shortages due to the country being surrounded and embargoed, with extraordinary will and determination, oil and gas workers went from "nothing to something"; from the position of "employees", "apprentices", they have now basically mastered the most advanced technologies of the world's oil and gas industry.
“ Aspiration-intelligence-professionalism-loyalty ” is the “gene code” of Petrovietnam staff and workers, and is the driving force and provision for today's generation to move forward steadily.
With the special attention of the Party and State, the Vietnamese oil and gas industry has continuously developed, increasingly affirming itself as an important and key economic-technical sector of the country, in which Petrovietnam plays a pivotal role, ensuring the country's four important "An" words, namely: National energy security; national food security; national economic security; national sovereignty security at sea. That has been affirmed and recorded in many important documents of the Party and State, and most recently in Conclusion No. 76-KL/TW dated April 24, 2024 of the Politburo.
Petrovietnam has built a complete and synchronous oil and gas industry system from oil and gas exploration, exploitation to the development of gas-electricity-processing industry and high-quality oil and gas technical services; forming a team of nearly 60,000 highly qualified workers, with a sense of responsibility, discipline, professionalism, creativity, mastery of modern and complex science and technology of the industry and reaching out to the world.
With the synchronous development of the oil and gas industrial chain, Petrovietnam has become the core and nucleus in the formation of concentrated industrial zones in: Ba Ria-Vung Tau, Dong Nai-Hiep Phuoc, Ca Mau, Dung Quat-Quang Ngai, Vung Ang-Ha Tinh, Nghi Son-Thanh Hoa... This synchronous investment has fundamentally changed the economic structure, bringing in large revenues for the national budget, basically meeting the energy and fertilizer requirements of the whole country.
Projects such as Dung Quat Oil Refinery, Ca Mau Gas-Electricity-Fertilizer Complex, etc. are still operating very effectively, making great contributions to the socio-economic development of the country in general and each region and locality where the project is operating. These regional-scale projects are clear evidence of the qualifications and capacity of Vietnamese petroleum engineers and staff, and are an important premise for Petrovietnam to promote the export of petroleum services abroad.
In terms of finance, Petrovietnam's production and business activities are very effective. Petrovietnam is the state-owned enterprise that contributes the most to the country's socio-economic development. With the consolidated assets of Petrovietnam as of December 31, 2023 being more than 1.0 million billion VND, equivalent to about 43 billion USD, the equity at the same time is 532 thousand billion VND, equivalent to 22.6 billion USD.
From 1986-2023, the total revenue of Petrovietnam reached over 524 billion USD, equivalent to 10-13% of the country's GDP; Petrovietnam's total budget contribution was over 129 billion USD, the period before 2010 contributed 25-30% of the total national budget revenue, the period 2011-2015 contributed 20-25%, from 2016 to present, due to the development of other economic sectors of the country, Petrovietnam always contributed 9-10% of the total national budget revenue.
These statistics show the strong, undeniable influence of Petrovietnam on the socio-economic development of the country and oil and gas workers have the right to be proud of those contributions!
At Petrovietnam, in the management and operation, this viewpoint and spirit has always been emphasized by Party Secretary and Chairman of the Board of Members Le Manh Hung as not being able to go backwards, but having to go sideways or up. There is no limit to the growth target, the market space is still large, Petrovietnam is not satisfied with what it has, satisfied with its contribution to the country. That is also the nature of generations of oil and gas workers, the desire to conquer, the desire to overcome challenges, the desire to contribute to the mission of "Finding oil to enrich the Fatherland".
PVOIL petroleum depot - energy for life.
Looking at countries with developed oil and gas industries such as Thailand, Malaysia, Indonesia, etc., we see that the scale of Petrovietnam is still quite modest. “Compared to national oil and gas corporations and companies in the region, Petrovietnam is still small in scale, and still has room and potential for development; therefore, Petrovietnam needs to shift its business model more strongly and innovatively to approach and catch up with these enterprises, contributing more to the country's socio-economic development in the new period” - Chairman of the Board of Members of Petrovietnam Le Manh Hung emphasized.
In the coming journey, with the great expectations set by the Party and the State for the Group's development, and with new opportunities and new times, Petrovietnam is aiming for and determined to build and develop PetroVietnam into the country's leading national industrial-energy group, with high competitiveness in the region and internationally; playing a core, main, leading role, with strong financial potential and advanced scientific level; having high competitiveness, successfully implementing the development strategy of the Vietnamese oil and gas industry.
To achieve that goal, Chairman of the Board of Directors of Petrovietnam Le Manh Hung said that the Group has developed an Action Plan of the Party Committee of the Group to implement Conclusion No. 76-KL/TW. Accordingly, to effectively implement the development strategy of the Vietnamese oil and gas industry, Petrovietnam must identify and determine the impacts from the world and regional environment, difficulties and challenges, evaluate resources, thereby determining development goals, orientations and solutions for implementation in the coming time, ensuring the successful implementation of the development goals of the Vietnamese oil and gas industry approved by the Politburo in Resolution No. 41/NQ-TW and Conclusion No. 76-KL/TW.
Chairman of the Board of Members of Petrovietnam Le Manh Hung also affirmed that the documents, policies, and strategic development orientations, along with the completion of related mechanisms and policies to create favorable conditions for Petrovietnam to develop, are opportunities and fulcrums for Petrovietnam to overcome difficulties and confidently achieve its development goal of becoming a national industrial-energy group with regional and international competitiveness. To realize that goal, Petrovietnam has identified 7 groups of tasks and solutions that need to be implemented drastically, synchronously, and effectively immediately, including:
Proactively coordinate closely with competent authorities to build and perfect institutions and policies to facilitate rapid and sustainable development of the oil and gas industry, with Petrovietnam as the main player;
Complete the oil and gas industry infrastructure in a synchronous and smart direction, reaching the advanced level of the ASEAN region, meeting the requirements of ensuring national energy security and the trend of energy transition;
Improve corporate governance across Petrovietnam;
Strengthening the attraction and improving the efficiency of using investment capital for development, and well managing the investment project portfolio;
Develop a development strategy and a restructuring project for Petrovietnam according to the model of a national industrial-energy group, in line with the strategic orientation for the development of the Vietnamese oil and gas industry, ensuring the goal of continuing to maintain market share in the traditional oil and gas sector with high quality and economic efficiency, while expanding the field of operation through participation in the value chain of new energy and renewable energy;
Promote digital transformation, boost research, application, technology transfer, innovation, and improve the quality of human resources;
Strengthen international cooperation, ensure national defense, security and foreign affairs, protect resources and environment.
With the results and achievements gained during nearly half a century of construction and development, with the forged mettle and intelligence, combined with the precious qualities of oil and gas workers summarized through the core values of " Aspiration - Intelligence - Professionalism - Compassion ", especially the attention, leadership and direction of the Party, State, the collective leadership and employees of Petrovietnam will soon realize the goal of making Petrovietnam a national industrial-energy group with regional and international competitiveness, as expected by the Party and State.
Source: https://baochinhphu.vn/thoi-co-moi-van-hoi-moi-de-petrovietnam-phat-trien-ben-vung-102240904083435891.htm
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