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With just one oil sale bringing in nearly 1,000 billion VND, are many people underestimating the true role of the oil and gas industry in Vietnam's economy?
On May 31, 2026, Nam Con Son Petroleum Exploration and Production Branch of PVEP coordinated with the floating oil tanker FSO PVN Dai Hung Queen to successfully carry out the 196th oil sale at Dai Hung field. The total volume reached 384,000 barrels of crude oil with a value of about 37.5 million USD, equivalent to about 975 billion VND at the current exchange rate.
This is not only a normal commercial activity but also an important milestone affirming Vietnam's capacity to exploit, operate and export offshore oil and gas in a context where the global energy market is still volatile.
SUMMARY TABLE OF DH-196 OIL SALES
Value Indicator
Sales 196 times
Oil volume 384,000 barrels
Commercial value 37.5 million USD
Conversion: About 975 billion VND
Daily mining output is 18,000 - 20,000 barrels
Total oil sold to date is more than 81.4 million barrels
Target milestone August 2026 More than 83 million barrels
DAI HUNG CONTINUES TO BE A PILLAR OF OFFSHORE ENERGY
Dai Hung field is one of Vietnam's most important offshore oil and gas projects. After nearly three decades of exploitation, the field still maintains a stable output of 18,000 to 20,000 barrels of oil per day.
According to PV leaderEP-NCS, the unit is aiming for the 200th sales milestone in August 2026. If the plan is met, the total amount of oil sold will exceed 83 million barrels, contributing a huge amount of revenue to the state budget.
DAI HUNG MINE OPERATION PERFORMANCE TABLE
Content Parameters
Mining 18,000 - 20,000 barrels per day
Sales cycle: About 20 days
The time to carry out the oil export is 26 hours
Operating personnel More than 30 people
Operating 24/24 hours
FSO DAI HUNG QUEEN NEARLY REACHED MAXIMUM THRESHOLD
One of the important factors helping Dai Hung mine operate effectively is the FSO PVN Dai Hung Queen ship.
This floating warehouse is capable of receiving, processing and storing oil before transferring it to international transport ships. With a receiving capacity of about 18,000 barrels per day, after only about 20 days the warehouse is almost full and needs to be sold.
CAPACITY TABLE OF DAI HUNG QUEEN FLOATING STORAGE
Parameter Value
Design capacity is 105,000 tons
Crude oil conversion: About 735,000 barrels
Current occupancy level is 98%
Oil received per day is 18,000 barrels
NOT ONLY EXPLOITING OIL BUT ALSO SAVING PEOPLE IN THE MIDDLE OF THE SEA
What's special at Dai Hung is not just the revenue numbers.
On May 24, 2026, a fisherman who suffered a serious brain injury about 40 nautical miles from the rig received emergency medical assistance from the rig's forces.
Through initial examination, the patient could not find a pulse and the risk of death was very high. Immediately, rescue helicopters were dispatched from the mainland to the scene to bring the victims back to shore for treatment.
Over the years, Dai Hung has participated in saving many livesPeople in distress at sea, including cases of serious injuries, broken bones and severed limbs.
DUAL VALUE TABLE OF DAI HUNG MINE
Activities Value brought
Oil and gas exploitation Large source of budget revenue
Ensuring energy security Maintaining domestic supply
Support fishermen First aid and rescue at sea
Presence on islands and seas Contributes to protecting sovereignty
Developing oil and gas techniques Improving technological capacity
IMPLICATIONS FOR THE ECONOMY
In the context that Vietnam is promoting economic growth and ensuring national energy security, oil shipments like DH-196 are especially important.
Each barrel of oil exploited not only generates revenue but also contributes to the budget, foreign currency, high-quality jobs and maintains Vietnam's economic presence in remote areas.
Dai Hung field's upcoming milestone of 200 oil exports is considered a testament to the enduring vitality of Vietnam's oil and gas industry, a strategic economic sector that is still quietly contributing tens of thousands of billions of VND each year to the country.
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