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Minister of Industry and Trade Vu Huy Hoang underlined the Ministry of Industry and Trade (MOIT)’s opinion that electricity and petroleum prices must be publicized and transparent on a Vietnam Television Q&A session on May 11.

The Vietnamese petroleum industry has collaborated with high-level domestic research and consulting agencies to successfully conduct a good number of R&D (research & development) projects, resulting in important economic effects and regional and global significance.

Tam Dao 05 lift off rig with a localization rate of 39% as a largest offshore project made in Vietnam so far  can operate in condition of above 12 degree storm. After 30 month manufcturing the rig has been handed over to Vietsopetro investor.

On 23 May 2016, in Hanoi, Vietnam Oil and Gas Group (PetroVietnam) signed memorandums of understanding (MOU) with US large Petroleum Honeywell and Murphy Companies.

From April 6th to 8th April 2014, the second meeting term of the Inter-government Committee on Vietnam - UAE cooperation was held in Abu Dhabi Capital and Dubai City of the United Arab Emirates (UAE).    

In the coming period, besides promoting search, exploration and exploitation of petroleum in deep-water, offshore areas in association with the national sovereignty protection at the sea in accordance with the development orientation of Vietnam’s Petroleum Industry to 2030, with a vision to 2045 approved by the Prime Minister, Vietnam Oil and Gas Group (PVN) will actively study to search for and explore non-traditional hydrocarbons (hydrate, coal gas, shallow gas, shale gas ...) to increase petroleum reserves for the country.

The Government has just issued Decree 25/2019 / ND-CP on amending and supplementing a number of articles of Decree No.13/2011/ND-CP dated February 11, 2011 of the Government on the safety of the onshore petroleum projects. This revised Decree pays special attention to the safe distance for the petroleum depots and petroleum products and the measures to protect oil and gas projects.

On August 9, 2018, PetroVietnam informed that Vietsovpetro has discovered a new petroleum well – Meo Trang Dong (East White Cat) – 1X (Lot 09-1,VSP). After this discovery, the relevant units will carry out the assessment of reserves and prepare the plan for putting the project into operation.

On November 25, at the Russian Federation Presidential Palace in the Sochi city, General Secretary Nguyen Phu Trong and President V. Putin had a talk, two sides emphasized the priority on development cooperation in the energy field with focus on petroleum sector.

In the coming time, Vietnam and Azerbaijan will promote opportunity of potential cooperation in petroleum field from upstream, midstream to downstream.

According to an information from the Russian National Energy Corporation (Rosneft), Rosneft and PetroVietnam have established two Joint Venture Projects on petroleum exploration and exploitation on the continental shelf of Pechora Sea, in the Arctic.