PetroVietnam continues to be main contributors for Vietnamese economy

PetroVietnam is actively arranging the organization to meet the requirements of the government. PetroVietnam is aiming to bring valuable results and continue to be one of the greatest contributors of Vietnamese economy.

Currently, PetroVietnam is submitting the Government the plan for comprehensive restructure for the period 2017-2025 with the specific schedule as follows:

By 2020, PetroVietnam will maintain activities in five main areas, in detail: To play the role of unified management of all activities of searching, exploring and exploiting. To coordinate business activities (production and business) gas, electricity, protein and petroleum technical services. To engage in non-controlling / financial investments in petrochemical refining, petroleum distribution, design, transportation, and drilling and maintenance services.

The drilling rig of Vietsovpetro at White Tiger field

From 2021 to 2025, Petrovietnam has continued to maintain its investment in five main areas but concentrating mostly on oil and gas exploration and production activities with the percentage of more than > 50%. PetroVietnam also continues to increase the market capitalization in the field of oil and gas exploitation and processing as well as electricity and petroleum services.

After restructuring, PetroVietnam will focus on its strengths to increase labor productivity, business efficiency and competitiveness in the country and in the world.

In the period after 2025, the positive changes of PetroVietnam will depend on the situation and ability to develop domestic and international oil and gas markets as well as the Group's financial strength and development capabilities.

Phu My Fertilizer Plant

In the future, PetroVietnam shall be the nucleus of building and developing oil and gas industry of Vietnam with the wide participation of all domestic and international economic sectors.

Thanh Cong