The ambition is to stabilize the oil production at today’s level and increase gas production to 10 Mmcfd. The state company Petro Vietnam (PV) estimates current oil reserves at 4 billion Bbl of oil and 23 Tcf of natural gas.
PetroVietnam is the dominant player in all petroleum sector development, both upstream and downstream. Subsidies of PV within the different activity sectors would be potential business associates and/or equity partners for Norwegian investors. PV has a good general knowledge of Norwegian Offshore technologies and has a high regard for Norwegian petroleum competence.