On the journey to realize the commitment to net zero emissions by 2050, Vietnam has identified offshore wind power as a strategic pillar of the future energy system. As a key enterprise in the national energy industry, Petrovietnam has proactively restructured its strategy, repositioned its brand and expanded its capacity towards greening and modernization, in line with the orientation in Conclusion 76-KL/TW (dated April 24, 2024) of the Politburo and Power Master Plan VIII (2023). The transformation from Vietnam National Oil and Gas Group to Vietnam National Industry and Energy Group is a strategic turning point, clearly demonstrating the vision of developing Petrovietnam into an integrated energy producer and supplier, ready to lead new energy sectors, especially offshore wind power. Based on the technical - financial - human resources foundation accumulated over more than half a century, Petrovietnam has proactively participated in developing domestic supply chains, increasing localization rates, reducing production costs and expanding international cooperation with leading corporations such as Equinor, Ørsted, Sembcorp, CIP...
Platform advantages and comprehensive deployment capabilities
In terms of manufacturing and installation, Petrovietnam owns almost complete infrastructure and equipment to serve the offshore wind power industry, with large-scale manufacturing ports and yards such as the manufacturing port complex of Vietsovpetro, PTSC, PV Shipyard, Sao Mai - Ben Dinh, Dung Quat, Nghi Son, Dinh Vu ports, etc. These are important seaport infrastructures, allowing the deployment of super-sized and super-heavy components to serve offshore wind power projects in the country and for export. Works such as turbine bases, transformer stations, foundation structures and offshore installation systems can all be manufactured synchronously at these facilities, with capacity expanding towards mass industrial production. Since 2023, Petrovietnam has initially entered the international market with large mechanical engineering contracts for wind farms in Asian and European waters. PTSC - a member unit of Petrovietnam has quickly approached new technology models, changing from single-piece production processes to mass production, investing heavily in infrastructure, equipment, production lines as well as human resources. Thanks to that, if previously the manufacture of a 2,000 - 3,000-ton oil rig base required up to 10 months, now, with a similar product, it can be completed in about 2 weeks.
In terms of financial capacity, by the end of 2024, Petrovietnam will have total consolidated assets of more than VND 1 million billion, equity of about VND 545 billion, contributing nearly 9% of the total state budget revenue. Notably, Petrovietnam is one of the very few Vietnamese enterprises to be independently rated by international organizations at "BB+" and with a stable outlook assessed by Fitch Ratings, demonstrating its ability to mobilize international capital, issue green bonds and access preferential credit sources to implement large-scale projects. This is the financial foundation and international that helps Petrovietnam proactively enter the offshore wind power value chain as a key organizer - investor - operator. The combination of the traditional oil and gas industry foundation and the orientation of green energy development is ready for a flexible and effective operating structure. Thanks to that, Petrovietnam not only meets the technical and financial conditions to implement offshore wind power projects, but also has the capacity to master the domestic supply chain, contributing to increasing the localization rate and affirming the national position in the new energy industry.
Demonstrate capacity through major projects and regional cooperation
Prime Minister Pham Minh Chinh , Malaysian Prime Minister Anwar Ibrahim and Singaporean Prime Minister Lawrence Wong witnessed the signing ceremony of a cooperation agreement between leading energy corporations of the three countries on the export of renewable electricity from Vietnam to Malaysia and Singapore. (Photo: VGP)
Ready to lead the offshore wind value chain
Offshore wind power is not only a new industry, but also a strategic component in the national energy development orientation. In Conclusion No. 76-KL/TW dated April 24, 2024 of the Politburo, the Central Executive Committee clearly identified the goal of building Petrovietnam into a National Industry - Energy Group, taking on a continuing offshore role in developing renewable energy, especially wind power. The Conclusion clearly states the requirements to promote equipment localization, form a domestic supply chain, and proactively produce equipment for new energy, clean electricity and export.
In that spirit, the Government has given consistent instructions, demonstrating strong confidence in Petrovietnam. At the event on the energy project chain held on December 1, 2024 at the PTSC Energy Industry and Technical Logistics Center, Prime Minister Pham Minh Chinh affirmed: "Petrovietnam is becoming the main force in strategic projects, contributing to making Vietnam a world-class renewable energy center."
Prime Minister Pham Minh Chinh visited and worked at PTSC Energy Industry and Technical Logistics Center.
Previously, on October 1, 2024, Deputy Prime Minister Bui Thanh Son assigned the Ministry of Industry and Trade to coordinate with Petrovietnam to develop a pilot plan for offshore wind power development, considering the Prime Minister to consider and decide. During the working session with the Ministry of Industry and Trade in November 2024, the Deputy Prime Minister continued to emphasize the importance of early implementation of offshore wind power projects, meeting the progress of implementing the VIII Power Plan and the roadmap to achieve net zero emissions by 2050. According to the pilot project chaired by the Ministry of Industry and Trade, Petrovietnam was proposed as a suitable unit to implement the first offshore wind power project, based on its organizational system, technical infrastructure and experience in implementing large-scale offshore projects. The legal basis from the conclusions, resolutions and administrative instructions of the Government has created a solid foundation for Petrovietnam to proactively realize its leading role in the field of offshore wind power - a new strategic pillar in ensuring national energy security. With the foundation accumulated from the development of the oil and gas industry, along with the strategic orientation established at the highest level, Petrovietnam is ready to participate in organizing, operating and gradually leading the offshore wind power value chain in Vietnam. This is an opportunity for the Group to continue to affirm its core role in the national energy transition, expanding the space for industrial development at sea, towards the goal of green growth and sustainable development.
According to PetroTimes
Source: https://www.ptsc.com.vn/tin-tuc/tin-dau-khi-1/tin-pvn/bai-2-dinh-vi-vai-tro-chu-luc-cua-tap-doan-cong-nghiep-nang-luong-quoc-gia-viet-nam
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