Solutions and engineering service for Oil & Gas

Currently, the activities of Vietnam's oil and gas industry include oil and gas prospection and exploration; oil exploited; gas industry and trading of petroleum products; Technical services and oil and gas processing are being focused on investment. These are considered the core areas of Vietnam's oil and gas industry.

• Market size and market share

Vietnam's oil and gas industry, dominated by the Vietnam Oil and Gas Group (PetroVietnam – PVN) and supervised by the Ministry of Industry and Trade, plays an important role in the Vietnamese economy thanks to its significant contribution to GDP and the budget. state (average 20%). With crude oil reserves at 4.4 billion barrels, Vietnam ranks third in the Asia Pacific region and provides about 0.6% of global demand. However, Vietnam is a net importer of petroleum products due to low refining capacity before 2018 (6.5 million tons/year). In 2017, domestic crude oil production decreased by 11.1% to 13.5 million tons, of which 6.8 million tons were exported. Even so, the demand for petroleum products still achieved a good growth rate of over 6%. With Vietnam's petroleum consumption demand at a low level of 0.21 liters/person, the growth potential of our country's oil and gas industry is still very large.