(pvn.vn) From 04th to 07th December 2016, President & CEO of Vietnam Oil and Gas Group Nguyen Vu Truong Son accompanied the working group led by Minister of Industry and Trade Tran Tuan Anh to attend the 7th Session of Vietnam – Korea Joint Commission and the program of the Energy and Mineral Subcommittee in Korea.

During the business trip in Korea, Petrovietnam President & CEO Nguyen Vu Truong Son and leaders of some affiliates together with the Minister met and worked with the Group”s partners i.e. Korea National Oil Corporation (KNOC) and Daewoo Engineering and Construction Corporation (Daewoo E&C).

In the meeting with the Chief Executive Officer of KNOC, Mr. Jung Rae Kim, Minister of Industry and Trade appreciated the cooperation between Vietnam Oil and Gas Group and KNOC in the recent years. KNOC is one of the first foreign petroleum corporations to have engaged in exploration and exploitation activities in Vietnam continental shelf. Especially, KNOC has partnered with Petrovietnam in the lots under the contracts 15-1 and 11-2 and both the lots are now in the exploitation phase. The lots play a very important role in the exploitation output of Vietnam Oil and Gas Group. In that spirit, the Minister also expressed his expectation that KNOC would continue promoting the spirit and broaden cooperation with PetroVietnam in open lots in Vietnam continental shelf as well as oil and gas projects in third countries.

Mr. Jung Rae Kim, the Chief Executive Officer of KNOC, gave faithful thanks to the Minister for having spent his precious time for the corporation. He said that Vietnam is a strategic area of ​​KNOC and that the Corporation always hopes with its scientific experiences and achievements to continue its cooperation with Vietnam Oil and Gas Group in the fields of strengthening the oil recovery factor, putting the experimental products on field as well as providing the chemicals in this process. The CEO expected that with the support of the Government, the Ministry of Industry and Trade of Vietnam and of the Minister personally, the cooperation between KNOC and Petrovietnam will increasingly gain new successes, as a solid foundation for expansion in the field of search and exploration in the open plots in Vietnam and third countries.

On the same day, Minister of Industry and Trade and the working group visited the head office of Daewoo Engineering and Construction Corporation (Daewoo E&C). The Minister appreciated the investments of Daewoo in Vietnam. Ever since the formal diplomatic relation was established between the two countries, Daewoo has been known as a pioneer to participate in the construction market in Vietnam. The Minister hoped that in the near future, Daewoo E&C would not only make investments in the field of basic construction, but also expand its investments into other potential fields of Vietnam such as construction of infrastructure and investment for construction projects including oil and gas works.

The Minister claimed that the Government of Vietnam would always create favorable conditions for foreign investors to enter in Vietnam, especially Korean firms. During the meeting, Petrovietnam President & CEO Nguyen Vu Truong Son also introduced Daewoo a number of projects which were assigned by the Government to the Group such as construction of some coal and gas – fired power plants. In addition, Vietnam Oil and Gas Group plans to implement some projects of later stages such as construction of LNG and LPG import ports to facilitate the use of this fuel in the future. Petrovietnam President & CEO Nguyen Vu Truong Son hoped that Daewoo would not only participate in the PetroVietnam’s projects as a general contractor but also make investments directly into the projects. 

Representing Deawoo E&C, Mr. Chang-Min Park expressed faithful thanks to the Minister Tran Tuan Anh and the working group for taking their time to visit the Deawoo E&C office. He said the corporation was now seeking to expand its operations in many fields in Vietnam, and was very interested in such energy projects as construction of power plants as well as investment and construction of bridge & port systems in Vietnam. He also hoped that the two parties would come up with good cooperation agreements in the near future, contributing to the success of the business cooperation between Vietnam and Korea.