Vietnam Oil and gas industry with historical events

The process of formation and development of Vietnam Oil and Gas industry has important turning points closely and accompanying the history of the country.

Tam Dao 01 Oil Rig of Vietsovpetro.

1. With a visionary vision, after only 3 years of complete liberation of the North (1954), President Ho Chi Minh paid attention to the oil and gas field in Albania and the refinery in Bulgaria (1957). On July 23, 1959, President Ho Chi Minh visited Bacu Petroleum Industrial Park (Adecbaigian).

On November 27, 1961, the General Department of Geology of Vietnam decided to establish the Oil Exploration Group 36, which is the first organization of Vietnam to search oil and gas exploration. Later, the Government decided to take November 27 every year as the Traditional Day of Vietnam Oil and Gas Industry.

2. On September 3, 1975, the Government Council issued Decree No. 170 / CP to establish the General Department of VietNnam Oil and Gas, marking the petroleum industry in Vietnam.

In order to cooperate with foreign oil companies, on September 9, 1977, the Government issued Decision No. 251 / CP to establish Vietnam Oil and Gas Company (PetroVietnam) under Vietnam Oil and Gas General Department.

On April 19, 1981, to start exploiting Tien Hai and Thai Binh gas fields to supply gas for two generating sets of electricity turbines to serve local industries

3. On June 19th, 1981, in Moscow, the two governments of Vietnam and  Soviet Union signed an Agreement to establish a Vietnam-Soviet Joint Venture Enterprise. This was an important turning point for the development of Vietnam Oil and Gas industry.

On June 28, 1986, Vietnam - Soviet Petroleum Joint Venture Enterprise exploited the first ton of crude oil from White Tiger field off Vietnam's continental shelf listing Vietnam among oil and gas producing countries in the world.

On September 6th 1988, exploiting the first ton of oil from White Tiger foundation stone foundation. On May 29, 1995, Prime Minister signed Decision No. 330 / TTg to establish PetroVietnam on the basis of reorganizing.

On August 29th 2006, the Prime Minister issued Decision No. 198/2006 / QD-TTg approving the Scheme on the establishment of PetroVietnam.

Continuing achievements in recent years, PetroVietnam has stepped up cooperation with many foreign corporations and companies in oil and gas exploration and exploitation such as Malaysia, Indonesia, Algeria, Russian Federal Republic, etc... Especially in February 2009, Dung Quat Refinery started operation leading to Viet Nam oil and gas service has expanded to the world market. In addition, PetroVietnam also developed and operated many coal, gas, hydropower plants.

At present, although the political and economic situation as well as especially crude oil prices in the world have many unpredictable changes, PetroVietnam still maintains as a strong leading economic group in Vietnam.

Hiep Nguyen

Former Vice President of PetroVietnam