Prime Minister Invites Prahova Enterprises - Romania's Leading Industrial and Oil and Gas Hub - to Invest and Transfer Technology in Vietnam's Oil and Gas Projects

During his visit to Prahova province on January 21, as part of his trip to Romania, Prime Minister Phạm Minh Chính stated that Vietnam is expanding several oil refineries, building gas power plants, and investing in the oil and gas sector. This presents an opportunity for Prahova businesses to collaborate with Vietnam.

"We are ready to cooperate. Romanian enterprises in general, and those in Prahova in particular, can come to invest, assist in technology transfer, and provide human resources and equipment in the oil and gas sector," the Prime Minister said.

He believes that this will renew old motivations and promote cooperation in emerging fields between the two countries.

Prahova is Romania's leading industrial and oil and gas center. It is also home to Romania's first oil refinery and the University of Oil and Gas in Ploiesti. Hundreds of Vietnamese engineers have graduated from the Bucharest Academy of Oil and Gas and the University of Oil and Gas in Ploiesti.

Currently, Vietnam has two oil refineries, including the Dung Quất Oil Refinery and the Nghi Sơn Refinery. In 2022, the Vietnam Oil and Gas Group (PVN) proposed to the Government to invest in building a petrochemical complex and a national crude oil and petroleum product storage facility at the Long Sơn Oil and Gas Industrial Park (Bà Rịa - Vũng Tàu), with a total investment of about 18.5 billion USD in two phases.

Vietnam also plans to develop more than 30,420 MW of gas power by 2030, according to Power Plan VIII. LNG-powered plants will account for about 74% of the capacity, equivalent to over 22,500 MW.

Sharing with Prahova enterprises today, Prime Minister Phạm Minh Chính said that trust is an advantage given the strong cooperative relationship between the two countries. The biggest obstacle is the geographical distance, but this difficulty can be overcome in the context of a flat world with current technology and digital transformation. "Five to ten years ago we had to meet face-to-face; now we can work online," he said.

Source: Vietstock