Petro Drilling Viet Nam

2009 RMIT University Vietnam DANG BICH HONG s3231326 [PV drill & international adenylic acidere; Well Services JS Co] I. industry Overview Since the Doi Moi period, Vietnam has open its door for adapting new-sprung(prenominal) business environment and extraneous technology, business conducts, foreign investments, and so forth The state of matter has boosted geographic expedition activities and has allowed more foreign company fight in the embrocate industry. These efforts have resulted in rapid sparing growth with gross domestic product at 8.44% in 2007 and estimated GDP of 6.23% for 2008(www.mofa.gov.vn ) withal with the global pecuniary crisis.

As the result, the countrys cover industry has alike gone down the stairs significant developments from 1986 when it launches the first production in Bach Ho oil field. After two decades, Vietnam held 600 zillion barrels of turn divulge oil reserves as of January 2007 and in general ar located offshore according to the rock oil & Gas Journal (OGJ). Moreover, EIA forecasts that the countrys oil production will circumvent forth above 400,000 bbl/day in 2008(Petroleum industry). another(prenominal) research done by BMI indicates that Vietnam exports account for 4.16% of the regional oil generate in Quarter 2 of 2008 and expected to summation to 4.69% by 2012. Vietnams oil sector is dominated by the state-owned Vietnam embrocate & Gas Corporation (PetroVietnam), which is under the put up perfume of the Ministry of Industry. All oil production in the country is carried out through more than 57 different types of contracts be! tween PetroVietnam(PVN) and its foreign partners under such as Schlumberger, Haliburton, Mobil, BP, etc( PVD Annual Report 2008) Although the country crude oil export has been increasing, Vietnam liquid needs to importing refined oil for domestic use. Oil being a scarce resource and accounts for 50% of fall energy utilization in Vietnam. As the result, Vietnam is investing in a some refineries with the one in Dung khat which is... If you want to get a full essay, order it on our website: OrderEssay.net

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