Our strategy is to boost exploration, increase recoverable reserves, focus on the deepwater and promising regions, actively develop new areas and bring new discoveries into production along with investment in overseas exploration.
In collaboration with the international major oil and gas companies, we awarded contracts for deepwater areas, signed deals for joint geological surveys and studies and self-investment.
Upstream sector is essential to our business and we are actively developing the fields, bringing new assets in the country and abroad into operation and optimize production via an effective tied-in plan with the existing subsea facilities.
Our subsidiaries have been leveraging their capabilities and technologies to capture a higher level in development and delivered successful projects. Much of our success is attributable to close collaboration with partners and suppliers in the industry in design, construction, installation,… scope of works that help obtain project progress and minimize capital spending.
We aim to safely, responsibly and effectively produce oil and gas in the abroad, targeting high profitability and fill the gap in energy supply to meet local demand. Our major arm of overseas upstream activities is PetroVietnam Exploration and Production Corporation (PVEP) which is aggressively seeking and accessing new play opportunities with favourable policies. Our key investment areas include Southeast Asia, Africa, Middle East, former Soviet Union and Central/South America.