Vietnam Energy cooperation

Oil and Gas

Until now, Vietnam has signed with Russia for a number of cooperation documents in the energy sector: Roadmap for the Vietnam-Russia cooperation projects in the energy sector; Agreement between the Minister, Socialist Republic of Vietnam and Goverment of Russian Federation on cooperation in the energy sector; intergovernmental Agreement on Vietnam-Russia cooperation on construction of nuclear power plants on Vietnam. Specifically, on 27 December 2010, governments of Vietnam - Russian Federation signed the agreement to continue cooperation in the field of geological survey and oil and gas joint venture under the Vietnam - Russia, Vietsovpetro (2011-2030). In 30 years of cooperation, Vietsovpetro has exploited over 193 million tons of crude oil, accounting for 76% of the entire mining industry. Total crude oil sales reached 54.3 billion dollars, budget and profit of Vietnam nearly 34.4 billion, profits reached $ 8.8 billion of Russia. Besides, in 2011, Vietnam Oil and Gas industry operators about 1.1 million tons of crude oil.

U.S. companies operating in Vietnam in the oil and gas sector, including mining, transport and processing of petroleum, such as ConocoPhillips (CoP), Exxon Mobil, Chevron, marinated Company company Merichem ... In 2011, Vietnam oil and Gas Group (Petrovietnam) held a forum to call for investment in oil and gas sector in Washington. Forum has attracted the attention of U.S. companies.

In Latin America, Petrovietnam and the National Petroleum Company Venezuela (PDVSA) facilitate cooperation in oil and gas value chain, from exploration to processing and trade, shipbuilding and oil and gas transportation. Joint venture projects and upgrades to exploit heavy oil in the Junin Block 2 is a project with a total capital investment and large scale.

Petrovietnam is implementing two oil refinery project in Thanh Hoa and Ba Ria - Vung Tau. Project Nghi Son refinery is joint project between Kuwait Petroleum International (KPI) of Kuwait, Petrovietnam and two Japan partners are Idemitsu Kosan, Mitsui Petrochemical. Nghi Son Oil Refinery expected to be completed and operation in 2015, with a capacity of 200,000 barrels / day. The project consortium includes the petrochemical, energy infrastructure, pipelines and storage systems, information systems.

The Long Son petrochemical with the capital of up to 4.5 billion dollars by Thai Plastic and Chemicals company holds 71% stake, Vietnam hold 29% stake. PetroVietnam, holds 18 % stake and Vietnam National Chemical Corporation (Vinachem) hold 11%.

Electric: Buying from China, investment into Laos, Cambodia

Total electricity production and import in 2011 was estimated at 108.93 billion kWh, up 8.86% in 2010. In particular, the Electricity of Vietnam (EVN) purchase electricity from China with total of the Southern Company grid - China (CSG) in seven months in 2011 was 3.266 billion kWh . It is estimated that in 2012, EVN will be imported 4.65 billion kWh.

China has been building in Vietnam about 14 thermal power plants and small hydro projects, providing equipment for Vietnam power plant.

Vietnam to invest in Cambodia, a number of large-scale project in 2011 to include: hydropower plant project II Lower Se San, Se Kong hydropower projects 3 with capital USD 275.2 million.

Vietnam has been promoting investment in electricity projects in Laos with a total planned installed capacity of approximately 5,000 MW. To promote the development of electricity and contribute to improving efficiency in electricity trading between the two countries, both sides agreed to set up a system of 500 kV transmission lines.

Under review by Ministry of Planning and Investment, until 30 December 2011, Vietnam had 627 investment projects abroad, with total investment reached 10.8 billion USD in 55 countries. Implemented capital accumulated so far is estimated at about USD 2.7 billion, of which approximately $ 1.4 billion in oil and gas sector.

In 2011, Vietnam foreign investment estimated at USD 950 million. Which led by Petro Vietnam with total capital transferred abroad about USD 347 million.