Introduction | 2006 Expo | 2004 Expo I Others

Since 1992, Vietnam Oil & Gas expo has been the premier international exhibition with over 8000 professional visitors every year. The last Vietnam Oil and Gas Expo 2006 opened in Hochiminh City on 12-14 October. The three-day expo attracts 116 companies, producers and suppliers from 23 countries and regions, including UK, France, USA Norway, China, Korea, Japan and Denmark etc. Two hundred booths on an area of 5,000 sqm introduce various kinds of equipment in the fields. It is also attracted over 4400 qualified trade visitors who are in the related industries.  This year 2009 the 8th Vietnam Saigon Electricity Expo  is the jointly international event by PetroVietnam, Vietnam Chamber of Commerce and Industry Vietnam Exhibition Conference & Advertisement Joint Stock Company and CP Exhibition – Hong Kong. This event is supported by the Vietnam Ministry of Industry and Trade, local and international organizations.

Vietnam oil and gas industry is ranks the fourth in oil production among Southeast Asian countries. To date Vietnam’s oil and gas industry has produced almost 220 million tons of crude oil and 37 billion cubic meters of natural gas bringing a turn over of US$ 53 billion and contributing US$ 30 billion to the State’s budget. Till December 2007, the industry has attracted approx. US$ 5.8 billion of foreign capital for exploration and production. (Source: The Ministry of Foreign Affairs of Denmark, “The Oil And Gas Industry”, by Erik Ovesan - Export Advisor, 24/03/08).

Vietnam’s first downstream Dung Quat oil refinery in central Quang Ngai province will begin operating in February 2009. In May 2008, the opening ceremony for second oil refinery to be operational by 2013, with attracting capital investment of US$ 6.2 billion, targeted capacity of up to 10 million tons per year, its located in Thanh Hoa province, this is the biggest project between PETROVIETNAM, Japan and Kuwait. PETROVIETNAM is now preparing for its third refinery project in Long Son district of Ba Ria-Vung Tau province. (Source: downstreamtoday.com, “Vietnam Breaks Ground On $6B Refinery”, by AFX News Limited, 07/04/08).

The Vietnam Government, PETROVIETNAM together with foreign investors will actively invest in the infrastructure such as harbour, petroleum port system, gas pipeline, and gas consumption projects such as LPG, gas-fired power plants, fertilizer plants, etc. to develop the gas market, petroleum refining, petrochemical, petroleum trading and distribution, expansion and development of petroleum services to build an integrated petroleum industry. The total investment needs for 2006-2025 period for the petroleum sector are projected at US$ 30 billion, in which the investment from partners is about US$ 14 billion. (Source: Vietnam National Oil and Gas Group, “PETROVIETNAMs development strategy to 2015 and orientation toward 2025”).

Overall the Vietnamese oil and gas industry is a promising potential. As indicated, there is a need for future investments in both upstream and downstream production in order to tap the country’s recourses effectively.

 Last Update : 2009-11-18