Russia's Zarubezhneft eyes Vietnam offshore wind power projects
Russian oil-gas giant Zarubezhneft is looking to expand its operations in Vietnam to offshore wind power projects, general director Sergey Ivanovich Kudryashov told Prime Minister Pham Minh Chinh Monday.
He said Zarubezhneft was speeding up administrative procedures for new projects in Vietnam and offered suggestions to Vietnamese authorities on ways to boost the progress of some projects.
Russia would continue facilitating Russia-based projects of Rusvietpetro, a joint venture between Petrovietnam and Zarubezhneft, both state-owned oil-gas firms, Kudryashov added.
Zarubezhneft general director Sergey Ivanovich Kudryashov (left) and Prime Minister Pham Minh Chinh at a meeting in Hanoi on April 8, 2024. Photo courtesy of the government's news portal.
PM Chinh welcomed Zarubezhneft's interest in expanding its Vietnam operations, including offshore wind power projects.
He asked Zarubezhneft to work with Petrovietnam to highlight detailed suggestions for Vietnamese authorities to address various challenges in project implementation.
Chinh said Vietnam has always appreciated the support it has received from the former Soviet Union and now Russia, especially in the oil-gas sector. The Vietnamese government will further facilitate bilateral cooperation in oil-gas and renewable energy, he added.
Chinh also said that Vietnam highly respected its traditional friendship and the comprehensive strategic partnership with Russia.
Zarubezhneft is set to begin harvesting next year the 10.03 billion cubic meter Thien Nga-Hai Au gas field, 320 kilometers southeast off the southern province of Ba Ria-Vung Tau. Zarubezhneft EP Vietnam B.V., the Vietnamese subsidiary of Zarubezhneft, acquired rights to the gas field in June 2023.
Zarubezhneft will start exploiting the gas field starting with 149.6 million cubic meters in 2025 and receive first gas flows from Q4/2026. The exploitation is set to peak at about 620 million cubic meters annually in 2026-2033 and fall to 26.9 million cubic meters by 2047.
In July 2023, Vietsovpetro had said it planned to invest in several offshore wind power projects totaling 2,000 MW in the Mekong Delta province of Tra Vinh. The Vietnam-Russia joint venture wants to collaborate with Power Generation JSC 1 (EVNGENCO 1), a subsidiary of state utility Vietnam Electricity (EVN), in implementing the projects, representatives of both firms have informed Tra Vinh authorities.
- Related News
- Read More
Novaland says southern Vietnam projects under construction after customers lodge police complaints
Responding to Ho Chi Minh City police requests for project documents, Vietnam real estate major Novaland says all its projects in southern Vietnam provinces are under construction.
Real Estate - Wed, May 8, 2024 | 5:32 pm GMT+7
Vietnam dong likely to narrow slide by end-2024: Vietcombank Securities
Vietnamese currency dong (VND) is likely to appreciate against the U.S. dollar towards the year-end, narrowing its year-to-date depreciation, analysts with Vietcombank Securities say.
Banking - Wed, May 8, 2024 | 4:00 pm GMT+7
Testing food packaging is a vital step toward ensuring food safety and hygiene: exec
Packaging types that come into direct contact with food are at risk of becoming contaminated with dangerous compounds which are potentially harmful to human health, said Devender Singh, global innovation & technical development leader of food testing company Eurofins Sac Ky Hai Dang Company Limited.
Companies - Wed, May 8, 2024 | 3:34 pm GMT+7
Green products key for An Phat Bioplastics to dominate market: chairman
An Phat Bioplastics JSC, listed on the Ho Chi Minh Stock Exchange (HoSE) as AAA and a subsidiary of Hanoi-headquartered An Phat Holdings, will focus on researching and developing new products to diversify its green product portfolio and quickly dominate export markets, said its chairman Nguyen Le Thang Long.
Executive Talk - Wed, May 8, 2024 | 2:24 pm GMT+7
Vietnam logistics firms small but dynamic: insider
Foreign-invested enterprises hold the lion's share of Vietnam's logistics market, but domestic firms are becoming more dynamic despite their small scale, said Duong Quang Duy, CEO of VietAviation Logistics.
Economy - Wed, May 8, 2024 | 1:37 pm GMT+7
Vietnam high tech sector appealing to FDI firms: analysts
High technology is continuing to attract foreign-invested enterprises in Vietnam this year, which in turn will give a boost to the country’s economic growth, analysts have said.
Industries - Wed, May 8, 2024 | 10:18 am GMT+7
Indian chemicals giant Kanoria eyes deep-water port, oil refinery investments in central Vietnam
Kanoria Chemicals & Industries Ltd., one of the leading manufacturers of chemical intermediates and specialties in India, has shown interest in the Bai Goc deep-water port project located in Nam Phu Yen Economic Zone, Vietnam’s central province of Phu Yen.
Infrastructure - Wed, May 8, 2024 | 10:06 am GMT+7
Greenback surge hurts Vietnamese importers, firms with dollar debts
Vietnamese businesses with dollar-denominated loans and/or those that are heavily reliant on imports have been badly hurt by the greenback’s surge against the local VND currency.
Companies - Wed, May 8, 2024 | 8:11 am GMT+7
Singapore Airlines switches to sustainable aviation fuel use
Singapore Airlines has ordered 1,000 tonnes of sustainable aviation fuel (SAF) from refiner Neste, which is the airlines’s first purchase of low-carbon jet fuel from the Finland-based refinery.
Southeast Asia - Tue, May 7, 2024 | 10:20 pm GMT+7
Canada considers Southeast Asia gateway to Indo-Pacific
The Canadian Chamber of Commerce and the Export Development Canada (EDC) have co-organised a forum in Montreal, discussing the nation’s gateway to the Indo-Pacific, which groups 40 countries whose economic activities are worth close to $50 billion.
Southeast Asia - Tue, May 7, 2024 | 10:19 pm GMT+7
Thailand to increase daily minimum wage
Thai Prime Minister Srettha Thavisin on Tuesday defended his plan to introduce a nationwide daily minimum wage of THB400 ($10.88) as a necessary move for the economy.
Southeast Asia - Tue, May 7, 2024 | 10:19 pm GMT+7
Indonesia to build AI development centre with $200 million investment
Indonesia will have an artificial intelligence (AI) development centre with an investment of $200 million.
Southeast Asia - Tue, May 7, 2024 | 10:18 pm GMT+7
Philippines develops economic zones
Philippine President Ferdinand Marcos Jr. has said various economic zones in the country are open to all foreign investors and hoped that foreign companies can seize the business and trade opportunities from these economic zones.
Southeast Asia - Tue, May 7, 2024 | 10:17 pm GMT+7
Indonesia’s first EV battery factory expected to come into operation next month
Indonesian President Joko Widodo (Jokowi) has told the media that the first electric vehicle (EV) battery factory in the country will begin operating in June.
Southeast Asia - Tue, May 7, 2024 | 10:15 pm GMT+7
Samsung willing to pay more under global minimum tax scheme in Vietnam
South Korean conglomerate Samsung stands ready to pay more taxes in Vietnam in line with the Global Minimum Tax (GMT) roadmap, Dong Thi Hong Anh, chief accountant of its Vietnam operations said Tuesday.
Companies - Tue, May 7, 2024 | 7:29 pm GMT+7
Vietnam central bank sells $500-700 mln forex to cool dollar fever
Vietnam’s central bank is estimated to have sold foreign currency worth $500-700 million via spot transactions to help rein in the recent surge of the greenback.
Banking - Tue, May 7, 2024 | 4:24 pm GMT+7
