PetroVietnam’s Position Asserted

As for PetroVietnam, all progress and growth are rooted from the lofty aspirations and genial prophecy of Uncle Ho when he clearly discerned that a prosperous country necessitates a strong oil and gas industry. Under the leadership of the Party and Government, the entire staff of the Vietnamese oil and gas industry has devoted themselves tirelessly to overcoming all challenges and difficulties to build the Vietnamese oil and gas industry into a leading economic sector of the country, making great contribution to national construction and protection. In June 1986 when the first crude oil was extracted from Bach Ho (White Tiger), Vietnam officially became an oil producer and exporter in the world. This was a tremendous contribution to the national economy when Vietnam started the opening up period. On February 17, 2009, the Dung Quat oil refinery, the first of its kind in Vietnam, produced the first flow of refined oil. This was not only the first made-in-Vietnam petroleum products but also the product of “doi moi” and inner force-relying policy of our Party, the crystallisation of intellectual power of the Vietnamese people, the symbol of the Vietnamese working class in the new era, the Ho Chi Minh era. This event marked an important milestone of the Vietnamese oil and gas industry and the comprehensive development from search, exploration and production to refining.

 

Generations of Vietnamese oil and gas workers are always totally aware of their responsibility to the country and to the people, ready to overcome all difficulty to build up the oil and gas industry and lead it to success. The industry contributes 30 percent to the State Budget, plays a greater role in national economic development, leads the way in international cooperation, integration and investment expansion, builds a stronger workforce, functions as an economic engine of the country, works as a macroeconomic regulating tool for the State, actively shares forces in defending national sovereign rights and boundaries, and provides worthy, practical contributions to social security. With many successes achieved, the Vietnam National Oil and Gas Group is proud to have been granted the Labour Hero title and Gold Star Order - the highest order of Vietnam. This honour belongs to generations of officials, Party cadres and workers of the Vietnamese oil and gas industry.

 

Along with carrying out coordinated measures concerning administrative organisation, financial investment, market, science, technology, human resources development, environmental safety and protection, national security and defence, the Group jointly builds and deploys three groundbreaking solutions: Human solution, scientific and technological solution, and governance solution to realise aspirations for modernisation, integration, and development acceleration.

 

The objective of human resource solution is to rapidly develop high-quality human resources for immediate and long-term purposes and fundamentally reform employment, payroll, and personnel development policies in order to undertake oil and gas operations in Vietnam and in foreign countries.

 

Regarding scientific and technological solutions, PetroVietnam upgrades scientific and technological works in combination with modernising infrastructure and techniques to serve scientific and technological development, combines researching and training with production applications, and builds up scientific and technological capacity to design important oil and gas projects, set aside enough funds for scientific research, technological innovation and application, modern equipment investment, know-how acquisition, carries out offshore drilling and exploration projects, exploits oil and gas in small fields, and increase oil recovery factor in operating fields.

 

The Group deploys innovative solutions to management, continued restructuring, focuses and prioritises development of core businesses, adjusts operating scale, capital and scope of affiliated units in line with conditions and context in specific phases, enhances the capacity of senior management force, boosts flexible management and active international integration, decentralises operations and management, and upholds personal responsibility.

 

In the future, with the goal of becoming a dynamic, competitive concern in both Vietnam and the world, PetroVietnam will step up its operations in five core business fields, namely oil and gas search, exploration and production; petrochemical; gas industry; electricity; and high-quality oil and gas technical services. Oil and gas search, exploration and production is the most important business branch. The Group will advance oil and gas operations in foreign countries in order to raise its overseas output to a third of total production in 2020. Therefore, the Group will have to increase investments for oil and gas exploration and exploitation not only in Vietnam, but also in other countries. “PetroVietnam must be built into an exemplary State-owned enterprise, and exercise most clearly the leading role of the State economy in the process of national development,” former Party General Secretary Nong Duc Manh said at the PetroVietnam Party Congress in 2010.

 

Doctor of Science Phung Dinh Thuc, Party Secretary and Chairman of the Board of Members of Vietnam National Oil and Gas Group, said: Imminent tasks are very heavy, difficult and challenging. We only can confidently take that responsibility and move forward firmly when PetroVietnam’s members join efforts with the spirit of “Aggressive innovation, enterprise, self-responsibility and timely decision” and with the business motto of “Unity, modern integration, development acceleration.” And more than ever, every individual, every group ought to promote the tradition of a Labour Hero and the tradition of fire-seeking generations. They, with their all enthusiasm, determination and aspiration of rising up and their honour, pride in PetroVietnam brand, step up development acceleration and realise the desire of sailing the PetroVietnam ship to the open sea, and assert the position of a Vietnamese brand, PetroVietnam, in the region and in the world.