Dutch firms eye opportunities on Vietnam’s oil

Twenty-five major Dutch enterprises operating in the oil and gas sector and the Vietnam National Oil and Gas Group (PetroVietnam) discussed investment opportunities in the field at a seminar in Hanoi on March 29.

The event was held within the framework of the visit to Vietnam by a Dutch business delegation.

During the seminar, Dutch businesses raised queries regarding areas that they could invest in.

According to Alex Enthoven, President of the Association of Dutch Suppliers in the Oil and Gas Industry (IRO), the Netherlands is the world’s second largest exporter of petroleum-related products.

The country provides nearly 20 per cent of the gas for the European market and accounts for 30 per cent of natural gas in Europe, Alex Enthoven said, adding that the Netherlands set up the most dense gas distribution network in the continent, with a total length of pipeline reaching 136,000 km.

With strengths in finance and technology, IRO’s member businesses desire to invest in all steps included in the oil and gas industry such as exploration, exploitation, consumption, equipment supply, oil and gas services, and technological solutions in petrochemistry, he said.

PetroVietnam Deputy General Director Do Van Hau said PetroVietnam aims to raise gas output from the current 8-9 billion cubic metres to 14 billion cubic metres by 2015 to meet demands of power generation and fertiliser production. Thus, the group wishes to cooperate with foreign partners, especially Dutch businesses, in the exploration and exploitation of oil and gas in Phu Khanh and the Red River .

The company also hopes to work with Dutch enterprises in constructing pipelines transporting gas from exploitation sites towards onshore service ports in Cam Ranh and Hon La of the central provinces of Ninh Thuan and Quang Binh, and ports for importing liquefied gas in Thi Vai, in the southern province of Vung Tau, as well as other petrochemical projects, Hau said.

Tags: Vietnam oil and gas industry