Technology: The Driving Force Behind Vietsovpetro's Evolution

Vietsovpetro: Science and Technology as the Driving Force for New Development Trajectory

On the afternoon of June 26, the Vietnam-Russia Joint Venture Vietsovpetro - a subsidiary of Vietnam National Oil and Gas Group (Petrovietnam) - solemnly organized the Science and Technology Conference marking two significant milestones: the 45th anniversary of its establishment (June 26, 1981 - June 26, 2026) and the 40th anniversary of its first oil production (June 26, 1986 - June 26, 2026).

The conference served not only as an occasion to review the unit's glorious traditions but also as an important forum for experts and scientists to discuss strategic technological solutions in the new development phase of Vietnam's oil and gas industry.

Formation and Sustainable Development History

Over 45 years of formation and development, Vietsovpetro has established its position as one of the leading units in Vietnam's oil and gas industry. From the first oil wells extracted in 1986 to the present, Vietsovpetro has made significant contributions to the state budget and ensured national energy security.

Science and Technology Conference - A Highlight in the Development Journey

This Science and Technology Conference brought together more than 200 delegates, including industry-leading experts, scientists, and leaders of domestic and foreign oil and gas enterprises. The conference focused on discussing key topics:

• Application of advanced oil and gas extraction technology under increasingly complex technical conditions
• Solutions for optimizing production in the context of fluctuating oil prices
• Development of high-quality human resources to meet new technology requirements
• International cooperation in the field of oil and gas science and technology
• Digital transformation and sustainable energy development

Strategic Technologies for the New Phase

At the conference, experts shared many breakthrough technological solutions, with highlights including:

Development Orientation Until 2030

In his speech at the conference, Mr. Nguyen Van Loi - Chairman of Vietsovpetro's Board of Directors - emphasized the unit's development orientation in the new phase: "We identify science and technology as the key driving force to maintain our leading position in Vietnam's oil and gas industry. By 2030, Vietsovpetro will become a pioneer in applying high technology, ensuring the highest economic efficiency in the new context."

Accordingly, Vietsovpetro sets the following goals:

• Strengthen cooperation with world-leading oil and gas research centers
• Invest 10% of annual revenue in research and technology development
• Build a team of engineers and experts with international qualifications
• Apply the circular economy model in oil and gas extraction

Sustainable Development - Responsibility to the Community

In addition to technological solutions, the conference also paid special attention to sustainable development programs. Vietsovpetro announced plans to implement environmental protection initiatives, support local communities, and develop human resources in operational areas.

"We not only extract natural resources but must also ensure sustainable development, harmonizing between economic, social, and environmental factors," Mr. Loi affirmed.

International Connectivity and Cooperation

The conference also provided an opportunity for Vietsovpetro to cooperate with strategic partners in the field of oil and gas technology. During the event, the unit signed cooperation agreements with 5 leading science and technology organizations from Russia, Norway, and Singapore.

This is considered an important step in accessing and transferring advanced technology, while simultaneously enhancing Vietnam's autonomous science and technology capacity in the oil and gas sector.

The Vietsovpetro Science and Technology Conference has concluded, leaving many important impressions and clearly orienting the unit's new development phase. With high determination and serious investment in science and technology, Vietsovpetro is on its way to becoming a modern, efficient, and sustainable energy corporation.