Science, Technology, and Innovation: A Path for Petrovietnam’s Fundamental Transformation

Petrovietnam's growth target aligns with the nation’s development goals

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The event highlighted science, technology, and innovation as key opportunities for Petrovietnam’s fundamental transformation.The conference was co-chaired by Dr. Lê Mạnh Hùng, Chairman of Petrovietnam’s Board of Directors (BoD), and Dr. Nguyễn Quốc Thập, Chairman of the Vietnam Petroleum Association. Attendees included leaders from Petrovietnam’s Board of Directors, the Executive Board, specialized departments, experts from the Vietnam Petroleum Association, as well as leaders and experts from the Vietnam Petroleum Institute (VPI).

Scientific Conference on "Strategic Technology Orientations and Solutions to Promote Science & Technology and Innovation of Petrovietnam"

Identifying Petrovietnam’s Three New Strategic Pillars

Chairman Lê Mạnh Hùng emphasized that Petrovietnam is undergoing restructuring to become the Vietnam National Energy and Industrial Corporation. In preparation for this transition, the corporation must clearly define its strategic pillars within this new model. He stressed the importance of establishing a well-defined development strategy and leveraging science, technology, and innovation as key enablers to successfully navigate this transformation and contribute to national economic growth in the coming years.

Based on this vision, Chairman Lê Mạnh Hùng urged conference participants to engage in discussions to clarify the development model of Petrovietnam as the Vietnam National Energy and Industrial Corporation. Under this new model, the corporation will transition from five core business areas to three main pillars: industry, energy, and services—with energy as the central pillar.To ensure a successful transition and sustainable growth, Petrovietnam must identify strategic technologies, optimize governance models, and foster scientific research and innovation in ways that are both effective and forward-looking.

Chairman Lê Mạnh Hùng stated that the corporation will shift from five core business areas to three main pillars: industry, energy, and services.

At the conference, Dr. Phan Minh Quốc Bình, Deputy Director of VPI, stated that Petrovietnam is advancing toward a comprehensive and sustainable development model. The corporation is expanding beyond traditional resource extraction into higher value-added industries with strong growth potential. He also emphasized that the three pillars are interdependent and mutually reinforcing.

The Energy pillar reinforces Petrovietnam’s role in ensuring national energy security by supplying essential energy products to the economy. At the same time, the corporation must adapt to the global energy transition by diversifying its product portfolio and investing in renewable energy, clean energy, and emerging energy sources. This pillar encompasses the entire traditional oil and gas value chain, including exploration, extraction, and fuel production. It also involves the development of the gas and LNG industry, as well as expansion into renewable and new energy sources such as nuclear power, offshore wind energy, solar energy, green hydrogen, and green ammonia.

Dr. Phan Minh Quốc Bình discussed the development strategy of Petrovietnam as the Vietnam National Energy and Industrial Corporation, structured around three strategic pillars.

The Industry pillar positions Petrovietnam as more than just an energy provider, aiming for deeper participation in the value chain by developing supporting industries and energy-related sectors that create higher added value. This includes petrochemical, chemical, fertilizer, and plastic production, along with the development of new materials such as carbon nanotubes and graphene. It also covers mechanical engineering, including the production of drilling rigs, extraction platforms, wind turbine towers, and offshore/onshore infrastructure. Mineral extraction is another key focus, starting with seabed minerals and progressing to onshore minerals such as rare earth metals. Additionally, the corporation is investing in energy storage technologies, including nuclear-powered batteries.

The Services pillar establishes Petrovietnam not only as an energy producer but also as a provider of high-quality technical services for energy projects and industrial facilities in both domestic and international markets. This pillar encompasses services across the entire oil and gas value chain, including exploration, extraction, transportation, processing, and distribution. It also includes renewable energy and new energy services, specialized engineering, technical design, procurement, construction, and installation. Operations, maintenance, and repair services are also prioritized, along with logistics, scientific consulting, digital transformation, workforce training, and carbon capture and storage.

Dr. Nguyen Anh Duc, Head of the Department of Science and Technology and Digital Transformation, suggested the strategic technologies for Petrovietnam

Based on the experiences of leading global oil and gas corporations, Petrovietnam’s Strategic Board and Science, Technology, and Digital Transformation Board have proposed key strategic technologies for the corporation’s future development. These include offshore energy such as offshore wind power, offshore solar power, and geothermal energy. The corporation is also focusing on clean fuel production, energy storage technologies, advanced nuclear technology, CO₂ capture, storage, and utilization, as well as artificial intelligence applications in energy operations.

Petrovietnam has adopted OpenAI and DeepResearch to facilitate research and analyze innovation strategies from national oil companies such as Pertamina, Petronas, and PTT. The corporation is also exploring integrated offshore energy models that combine oil and gas production, CO₂ storage, seabed mineral extraction, wind energy, and green hydrogen production.

Dr. Nguyen Quoc Thap, Chairman of the Vietnam Oil and Gas Association, offered suggestions on the core pillars of the Group

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