Petrovietnam and Mitsui promote cooperation in the energy sector.

On August 17th, in Hanoi, Mr. Le Manh Cuong, General Director of the Vietnam National Energy and Industry Corporation ( Petrovietnam ), met and worked with Mr. Makoto Sato, Deputy General Director of Mitsui & Co., Ltd., and Managing Director of the Asia-Pacific Group. During the meeting, the two sides discussed the progress of the Block B - O Mon gas-fired power plant project and directions for expanding cooperation in the energy sector.

Overview of the working session

Also attending the meeting were representatives from Petrovietnam's specialized departments and members of the Mitsui & Co. delegation.

Petrovietnam General Director Le Manh Cuong stated that the Block B - O Mon gas-fired power plant project chain is progressing smoothly in the upstream and midstream stages. Downstream power plant projects are also being actively promoted to ensure synchronization with the upstream and midstream progress. At the same time, the Group is considering a plan to supplement gas supply to the Southwest region to increase coordination capacity and optimize the efficiency of using gas from Block B.

For the O Mon III Thermal Power Plant Project, Petrovietnam is actively coordinating with JICA to expedite the relevant procedures, aiming to sign the EPC contract soon and bring the plant into commercial operation as planned.

Mr. Le Manh Cuong informed that Petrovietnam has transformed its model from a national oil and gas corporation to a national industrial and energy corporation. According to the new direction, in addition to the traditional oil and gas sector, Petrovietnam is gradually expanding its development into new areas such as LNG, offshore wind power, CCS (carbon capture and storage), and energy solutions for data centers. Based on this, Petrovietnam hopes to strengthen cooperation with international partners, including Mitsui Group, to mobilize financial resources, experience, and technology to jointly research and develop new energy projects. The goal is to gradually translate the cooperation directions into concrete projects that bring benefits to all participating parties.

Petrovietnam General Director Le Manh Cuong held discussions with Mr. Makoto Sato, Deputy General Director of Mitsui & Co., Ltd., and Managing Director of the Asia-Pacific Group.

Mr. Makoto Sato, Deputy General Director of Mitsui & Co., Ltd., highly appreciated the progress of the Block B - O Mon gas-fired power plant project chain. According to him, the projects are progressing smoothly, aiming to receive the first gas flow as soon as possible. Mitsui is ready to support Petrovietnam in working with JICA to implement the power plant projects.

 General Director of Petrovietnam, Le Manh Cuong, presents a commemorative gift to Mr. Makoto Sato.

Besides promoting the Block B - O Mon gas-fired power plant project, Mr. Makoto Sato stated that Mitsui is also interested in Petrovietnam's new development directions, especially in the fields of offshore wind power, data centers, and CCS (Containerized Service Center). These are all areas where Mitsui has strengths and experience in implementing projects in many markets. Therefore, Mitsui hopes to continue exchanging ideas and researching cooperation opportunities with Petrovietnam, gradually concretizing them into projects in the future.

Delegates attending the meeting

At the end of the meeting, both sides agreed to assign their respective focal units to continue exchanging information, concretizing the discussed cooperation contents, and maintaining a regular working mechanism in the future.

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