Petrovietnam delivers 33 offshore windfarm foundations to Orsted’s 920 MW project

By Tri Duc
Mon, December 2, 2024 | 10:35 am GMT+7

State-owned Petrovietnam delivered 33 offshore windfarm foundations to Orsted on Sunday, serving the Danish offshore wind power developer’s 920 MW Greater Changhua 2b&4 project offshore Taiwan.

Petrovietnam and its technical arm Petrovietnam Technical Services Corp (PTSC) held a delivery ceremony at PTSC’s manufacturing yard in the southern coastal province of Ba Ria-Vung Tau on the day, with the participation of Prime Minister Pham Minh Chinh.

Prime Minister Pham Minh Chinh (center) attends the launching and delivery of offshore windfarm foundations from Petrovietnam to Orsted, in Ba Ria-Vung Tau province, southern Vietnam, December 1, 2024. Photo courtesy of the government's news portal.

Prime Minister Pham Minh Chinh (center) attends the launching and delivery of offshore windfarm foundations from Petrovietnam to Orsted, in Ba Ria-Vung Tau province, southern Vietnam, December 1, 2024. Photo courtesy of the government's news portal.

PTSC and Orsted signed an agreement on manufacturing the facilities in May 2023. The Vietnamese side has met the delivery deadline.

PTSC mobilized over 100 sub-contractors and over 80,000 tons of steel for the production. Each item weighs about 2,300 tons and has a height of 85 meters.

The project is an indicator that Ba Ria-Vung Tau province can develop into a renewable energy hub in Vietnam, according to Petrovietnam.

At the event, PTSC also signed agreements on manufacturing and supplying offshore windfarm foundations to foreign partners in the Asia-Pacific region.

Prime Minister Pham Minh Chinh (green shirt) visits an offshore windfarm foundation made by PTSC. Photo courtesy of Petrovietnam.

Prime Minister Pham Minh Chinh (green shirt) visits an offshore windfarm foundation made by PTSC. Photo courtesy of Petrovietnam.

PM Chinh also attended a first-cut ceremony for offshore windfarm substations supplied to the Baltica 2 project. Baltica 2 is part of the 2.5 GW Baltica Offshore Wind Farm, jointly developed by Denmark’s Orsted and Poland’s Polska Grupa Energetyczna (PGE).

The project is located in the Baltic Sea, targeting operational date from 2027 for the 1.5 GW Baltica 2 and 2030 for the 1 GW Baltica 3.

It marked the first time a Vietnamese firm has exported offshore windfarm substations to Europe.

Oil-gas activities

Regarding oil-gas activities, on the same day, Petrovietnam held a first-cut ceremony for the Block B central processing platform and a granting ceremony for the floating storage and offloading (FSO) contract for Lac Da Vang oilfield.

Block B central processing platform is a key component of Block B-O Mon gas-to-power project, a mega and long-delayed project of Vietnam with an investment of $12 billion.

The exploited gas, 433 kilometers off the coast of southern Vietnam, can reach 5.06 billion cubic meters a year and will be transported to the Mekong Delta city of Can Tho for the 3,810-MW O Mon power complex, which comprises the O Mon 1, O Mon 2, O Mon 3, and O Mon 4 power plants.

The project has an annual designed capacity of 22 billion kWh. The O Mon 1 power plant is already operational, while the O Mon 2, 3 and 4 power facilities are set to begin operations in 2026, 2027, and 2028, respectively.

Lac Da Vang oilfield is about 120 kilometers offshore Ba Ria-Vung Tau province. The FSO for Lac Da Vang oilfield has a designed capacity of 500,000 barrels of crude oil and can enter operation in the second half of 2026.

Comments ( 0)
  • Read More
ThaiGroup plans $4.9 bln tourism-resort complex in northern Vietnam

ThaiGroup plans $4.9 bln tourism-resort complex in northern Vietnam

Vietnam’s multi-sector corporation ThaiGroup plans to launch a VND128 trillion ($4.86 billion) tourism and resort complex in the northern province of Ninh Binh, home to the UNESCO-recognized Trang An scenic landscape complex, later this year.

Real Estate - Mon, May 11, 2026 | 10:41 pm GMT+7

Vietnamese dairy giant Vinamilk plans cautious price hikes as input costs rise

Vietnamese dairy giant Vinamilk plans cautious price hikes as input costs rise

Vietnam’s top dairy producer Vinamilk (HoSE: VNM) plans to raise product prices by around 2-3% as the company faces renewed pressure from higher raw material and logistics costs, according to brokerage Vietcap Securities following a recent investor meeting.

Companies - Mon, May 11, 2026 | 10:11 pm GMT+7

Vinaconex shifts toward property, infrastructure under former CEO

Vinaconex shifts toward property, infrastructure under former CEO

Nguyen Xuan Dong has returned to Vinaconex as chairman after serving as CEO from late 2018 to April 2026, a period marked by multiple challenges including disputes with Sovico Group, the impact of the Covid-19 pandemic, and geopolitical tensions that drove up raw material costs.

Companies - Mon, May 11, 2026 | 3:07 pm GMT+7

HCMC sees surge in land-related revenue as property firms pay tens of millions of US dollars

HCMC sees surge in land-related revenue as property firms pay tens of millions of US dollars

Budget revenue from land in Ho Chi Minh City has rebounded sharply as a series of real estate projects overcome legal bottlenecks and developers begin fulfilling financial obligations, according to the city’s Finance Department.

Real Estate - Mon, May 11, 2026 | 12:58 pm GMT+7

Average lending rates begin edging lower: Vietnam central bank

Average lending rates begin edging lower: Vietnam central bank

Average lending rates in Vietnam have started to decline slightly as the central bank steps up measures to support liquidity and ease borrowing costs, said Pham Chi Quang, head of the State Bank of Vietnam's monetary policy department.

Banking - Mon, May 11, 2026 | 11:43 am GMT+7

Battle for Vietnam beer market share shows no signs of cooling as firms ramp up advertising spending

Battle for Vietnam beer market share shows no signs of cooling as firms ramp up advertising spending

After a period of decline, the Vietnamese beer market is entering a recovery cycle amid an increasingly costly advertising battle among major producers.

Economy - Mon, May 11, 2026 | 8:00 am GMT+7

Taiwanese apparel material supplier Paiho injects additional $120 mln into southern Vietnam unit

Taiwanese apparel material supplier Paiho injects additional $120 mln into southern Vietnam unit

Paihong Vietnam Co. Ltd., a unit of Taiwan-based Paiho Shih Holdings Corporation serving the footwear and apparel industries, has decided to raise capital by $120 million through the issuance of 120 million new shares.

Industries - Sun, May 10, 2026 | 5:28 pm GMT+7

Vietnam calls for expanded flexible financing tools from ADB

Vietnam calls for expanded flexible financing tools from ADB

Prime Minister Le Minh Hung has called on the Asian Development Bank (ADB) to expand flexible and preferential financing instruments better suited to Vietnam’s funding needs for development investment in the coming period.

Economy - Sun, May 10, 2026 | 4:08 pm GMT+7

Asia’s leading luxury travel magazine hails Hanoi's new opera house: 'Move aside, Sydney'

Asia’s leading luxury travel magazine hails Hanoi's new opera house: 'Move aside, Sydney'

Even while under construction, the new Hanoi Opera House at West Lake has become a focal point for international media.

Companies - Sun, May 10, 2026 | 11:21 am GMT+7

Duc Giang Chemicals CEO reassures shareholders, accepts profit erosion pressure

Duc Giang Chemicals CEO reassures shareholders, accepts profit erosion pressure

CEO of Duc Giang Chemicals Group JSC (HoSE: DGC) Luu Bach Dat admitted shortcomings in the company’s legal compliance following the arrest of senior executives and pledged to close regulatory loopholes to prevent similar issues in the future.

Companies - Sun, May 10, 2026 | 10:54 am GMT+7

Vietnam developer Saigonres plans $650 mln investment for next 5 years

Vietnam developer Saigonres plans $650 mln investment for next 5 years

Saigon Real Estate Group JSC (Saigonres) plans total investment of VND17.11 trillion ($650.37 million) for 2026-2030, implying average annual capital demand of about VND3-4 trillion ($114-152 million).

Real Estate - Sun, May 10, 2026 | 10:15 am GMT+7

Firms must abandon five leadership habits to navigate AI era: FPT CEO

Firms must abandon five leadership habits to navigate AI era: FPT CEO

The important thing is not to chase AI, but to apply AI to solve the right organizational problems, said Nguyen Van Khoa, CEO of FPT Corporation, a leading technology company in Vietnam.

Companies - Sun, May 10, 2026 | 8:00 am GMT+7

Trung Nam Group's solar power arm suffers $37 mln loss amid rising debt pressure

Trung Nam Group's solar power arm suffers $37 mln loss amid rising debt pressure

Trung Nam Thuan Nam Solar Power Company Limited, a subsidiary of the multi-sector Trung Nam Group, incurred a net loss of VND969 billion ($36.83 million) in 2025, reversing a profit of VND138.2 billion ($5.35 million) a year earlier, according to its 2025 earnings statement.

Companies - Sat, May 9, 2026 | 3:01 pm GMT+7

French firms eye Vietnam’s North-South high-speed railway project

French firms eye Vietnam’s North-South high-speed railway project

A delegation of 15 major French companies and industrial groups has expressed interest in participating in Vietnam’s planned North-South high-speed railway project.

Infrastructure - Sat, May 9, 2026 | 2:38 pm GMT+7

Grocery chain Bach Hoa Xanh opens 1st store in Hanoi, takes cautious northern Vietnam expansion approach

Grocery chain Bach Hoa Xanh opens 1st store in Hanoi, takes cautious northern Vietnam expansion approach

Bach Hoa Xanh, a grocery chain operated by Vietnam’s leading retailer Mobile World Investment Corporation (HoSE: MWG), has opened its first store in Hanoi, marking entry into one of the country’s most competitive consumer markets.

Companies - Sat, May 9, 2026 | 8:17 am GMT+7

Intel to continue expanding investment in Vietnam: exec

Intel to continue expanding investment in Vietnam: exec

U.S. chipmaker Intel will continue expanding investment, supporting workforce training, and helping develop Vietnam’s semiconductor ecosystem as the country refines investment support mechanisms to retain large-scale high-tech projects, said its executives.

Industries - Fri, May 8, 2026 | 7:48 pm GMT+7