Responding to Vietnam ASEAN President Year 2020 with the theme for ASEAN 2020 is “Mounting and Proactively Adapting” Offshore Technology Vietnam – Oil and Gas Industry (OTV Expo 2020) on 6-8 July 2020 is an important event, introducing and promoting new technical and technological achievements of Vietnam Oil and Gas industry in recent years, opening up good conditions to develop domestic petroleum technology and technology in the future. Moreover, the seminars and exhibitions are an opportunity for the world’s leading manufacturers, oil and gas corporations, domestic and international companies to exchange and sign business contracts.
This will be the first oil and gas exhibition organized by Vietnam and will be an annual traditional event of the domestic and foreign oil and gas business community, on an area of 10,000 m2, attracting about 10,000 visitors. According to the organizers, the event includes the display and introduction of technology equipment, auxiliary industrial products, equipment … from domestic and foreign manufacturers.
The exhibition officially opens at 8:30 on July 6, 2020, and is open to visitors from 9:00 am to 6:00 pm from July 6th to July 8th, 2020. Entry is free of charge. With serious investment in time, facilities, guests, partners, and many exchanges, specialized seminars, expect to attract 10,000 visitors, affirming the role of the most prestigious and professional event in the field of Vietnam and International Petroleum Exhibition.
Information about Vietnam Oil and Gas Industry
Accompanying the country in the renovation process for nearly 35 years, Vietnam’s oil and gas industry has constantly grown, playing a very important role in ensuring energy security, increasing export turnover, creating foreign currency revenue, contributing to the state budget, promoting economic restructuring towards industrialization – modernization. Oil and gas exploration activities in the continental shelf have also contributed significantly to protecting national sovereignty at sea.
Oil and gas industry with great potential and quite modern technical facilities is fully capable to continue to play the leading role in the industry, creating a driving force for economic growth in the period of 2020 – 2030. The contribution of the oil and gas industry to the economy will depend on the growth of scale, as well as productivity, quality, efficiency and competitiveness of the whole industry. This requires great and timely efforts of both the oil and gas industry and the authorities of the Government.
Industry structure of the petroleum industry is structured in three areas: Upstream, Midstream, Downstream. Each area is divided into functions and activities as follows:
- Upstream: Activities of exploring, exploring and exploiting. The ultimate goal of upstream activities is to find, discover and bring oil and gas into exploitation. In order to detect oil and gas and put them into exploitation, upstream activities are divided into two types of activities: exploration, exploration and exploitation.
- Midstream: All transport, storage and distribution activities.
- Downstream: Refining and petrochemical activities produce petroleum products, eventually distribute to consumers.
In recent years, PVN has not strengthened its oil and gas exploration and exploration activities to increase production, due to the Petroleum Law enacted in 1993 – the initial development period of the oil and gas industry. amended in 2000 and 2008, which are no longer suitable and cannot create motivation in attracting foreign investment capital into this field. Typically, in recent times, a number of Contract Plans have been returned to PVN on the grounds that they are no longer economically efficient, such as Lot 46/13 – Song Doc and Lot 01 & 02/97 Thang Long and Dong Do mines. Regarding this situation, The Petroleum Law will be submitted to the National Assembly’s Economic Committee and Budgetary Committee for amendments in 2019 and 2020 with the aim of improving the status of upstream activities. Notably, the gas industry is determined to be the development focus in the future.
According to the Scheme on development of Vietnam’s petroleum industry to 2025 and vision to 2035 approved by the Prime Minister, the main development objectives for the gas industry are as follows:
- In the 2016-2020 period: The output will reach 10 – 11 billion ?3 / year
- In the period of 2021 – 2025: Mining output reaches 13-19 billion m3 / year
- Period of 2021 – 2025: Mining output reaches 17 – 21 billion ?3 / year
Investment demand for petroleum industry to 2025
| Projects | Total capital demand (million USD) | Projects of enterprises with State capital (million USD) |
|---|---|---|
| 1. Marine pipeline system | 2,916 | 2,154 |
| 2. Pipeline system to shore and stations | 688 | 436 |
| 3. CNG / LNG plant (small scale) | 166 | 69 |
| 4. Gas treatment plant | 1,873 | 1,243 |
| 5. LNG port warehouse | 4,049 | 2,102 |
| 6. LNG Warehouse | Doe | 470 |
| Total capital requirement | 10,569 | 6,474 |
Source: Development plan of Oil and Gas industry, summarized MAS
