Result 2019:
13.09

Crude oil
Million Tons

10.20

Gas exploited
Billion M3

22.54

Electricity
Billion KWhs

1.577

Fertilizer
Million Tons

11.500

Petroleum
Million Tons

VPI - FECON collaboration in research and development of energy infrastructure projects in Vietnam

On October 2, 2020, in Hanoi, the Vietnam Petroleum Institute (VPI) and FECON Joint Stock Company (Stock code: FCN) signed a Memorandum of Understanding (MOU) for collaboration, research and development, and joint infrastructure projects in energy in Vietnam. Dr. Nguyen Anh Duc - VPI General Director and Mr. Pham Viet Khoa - Chairman of FECON Board of Directors, on behalf of the two parties, signed this important document.

According to the MOU, VPI and FECON will strengthen information sharing and jointly develop the geological and geotechnical database of some key areas along the coast of Vietnam to advantage the planning, design and construction of nearshore and offshore projects. The two parties will also collaborate in geotechnical, geophysical and marine surveys; foundation and structure design of infrastructures near and far from the coast of Vietnam. The two sides plan to work together to research and sponsor businesses voluntarily affiliated with VPI and FECON in geotechnical engineering.

Dr. Nguyen Anh Duc - VPI General Director said that the collaboration with FECON is part of the strategy to build an innovative ecosystem for the Vietnam National Oil and Gas Group, in which, as a core, VPI will link with other organizations/ individuals in the world to research and develop, provide novel and breakthrough technology products and solutions to improve performance and competitiveness for units in the Vietnam oil and gas industry. For the time being, VPI and FECON will prioritize their collaboration in the field of survey, design and construction of renewable energy and oil and gas projects nearshore and offshore, especially offshore wind power projects; advance scientific research and technology transfer related to the field of offshore geotechnical engineering.

Mr. Pham Viet Khoa, FECON's Chairman of the Board said, according to its development strategy FECON focuses on simultaneously developing construction and installation segments (foundations, underground works, infrastructure, industrial construction) and investment (in transportation, industrial and urban zones, and renewable energy). “FECON is very proud to join the innovative ecosystem of the Vietnam National Oil and Gas Group, in which VPI has the role of a linking hub and hopes that the two sides will conduct specific and practical projects right after this signing ceremony”.

In the renewable energy sector, FECON is deploying several nearshore windfarm projects with water depth up to 13m. The Chairman expects the collaboration with VPI and other companies (such as Vietsovpetro, PTSC, etc.) will enable FECON to put operation of offshore projects in a deeper water depth, realizing the development strategy of FECON in the future.

Since being established in 1978, VPI is the R&D unit of the Vietnam National Oil and Gas Group (PVN), equipped with modern, synchronous facilities and has a team of highly competent scientists and specialists. VPI study outputs have become crucial bases for PVN’s policy planning, strategy setting and decision making as well as reliable consultant resources for the Government in petroleum exploration, production, transportation, processing, HSE, industry economics and management.

VPI aims at growing into an innovation hub, converging international intellect to create scientific and technological value for Vietnam oil and gas industry, to satisfy the demand of science & technology development and highly qualified human resource training.

In the period 2020 - 2025, VPI aims to successfully implement at least 4 long-term research programs to create science and technology products/ solutions, to catch up with major trends in the world; pilot at least 5 new and breakthrough technologies for units in the Vietnam oil and gas industry; commercialize at least 3 scientific and technological products resulted from research by VPI and its affiliates.

Established in 2004, FECON is an enterprise mainly operating in the two segments of construction (foundation, underground works, infrastructure, industrial construction) and investment (in transportation, industrial parks, urban projects, renewable energy). With the view of sustainable development and technical excellence in foundation, underground construction as well as structural engineering, FECON targets to become the leading infrastructure construction and development corporation in Vietnam by 2025 with revenue and after-tax profit of VND 10,000 billion and VND 825 billion, respectively.

Regarding renewable energy infrastructure projects, FECON is implementing large-scale solar and wind power projects such as B&T wind farm cluster in Quang Binh (including the wind farms of BT1 with a capacity of 109.2 MW and BT2 of 100.8 MW); Thai Hoa wind power plant (90 MW) in Binh Thuan; Tra Vinh wind power plant V1.3 (48 MW) in Tra Vinh; Lac Hoa wind power project (30 MW), Hoa Dong wind power project (30 MW); Quoc Vinh wind power plant (129 MW, of which 30 MW is the expected capacity of phase 1) in Soc Trang, etc. In addition to onshore and nearshore projects, FECON is currently preparing to invest in wind power projects offshore.

FECON is the exclusive user of CTE's invention (France) "Method of building wind turbine propeller foundation of wind power generator in shallow water nearshore" in the territory of Vietnam. This new technology saves 30% - 50% cost compared to methods being implemented in Vietnam.

Linh Chi

Exploration & Production