Central & SE Asia / Australasia

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Summary | Profile

Country profile: Vietnam

Location: Southeastern Asia, bordering the Gulf of Thailand, Gulf of Tonkin, and South China Sea, alongside China, Laos, and Cambodia
Climate: tropical in south; monsoonal in north with hot, rainy season (May to September) and warm, dry season (October to March)
Terrain: low, flat delta in south and north; central highlands; hilly, mountainous in far north and northwest
Size: 329560 sq. km total (Land area: 325360 sq. km  Water area: 4200 sq.km)
Population: 86,116,559 (July 2008 est.)
Languages: Vietnamese (official), English (increasingly favored as a second language), some French, Chinese, and Khmer; mountain area languages (Mon-Khmer and Malayo-Polynesian)
Government: Communist state
Capital city: Hanoi
Legal system: based on communist legal theory and French civil law system; has not accepted compulsory ICJ jurisdiction
Currency: dong (VND)

Country profile

Over the course of two decades Vietnam has emerged as an important regional producer of oil and natural gas in Southeast Asia. The country has boosted exploration activities, allowed greater foreign company involvement in the oil and natural gas sectors, and introduced market reforms aimed at strengthening Vietnam’s energy industry. While these efforts have helped Vietnam expand production of oil and natural gas, domestic consumption of these resources has also increased as a result of rapid economic growth.

The country’s real gross domestic product (GDP) has grown by an average 7.3 percent over the last ten years. Half of Vietnam’s domestic energy consumption comes from oil, with hydropower (20 percent), coal (18 percent), and natural gas (12 percent) supplying the remainder.

Energy production and consumption

Oil Gas
Production: 319,500 bbl/day (2007) 6 billion cu m (2007 est.)
Consumption: 271,100 bbl/day (2007) 6 billion cu m (2007 est.)
Exports: 315,700 bbl/day (2007)  
Imports: 271,100 bbl/day (2007)  
Reserves: 3 billion bbl (2007 est.) 184 billion cu m (1 January 2006 est.)
Major fields:

Vietnam - recent news

02 Apr 24
Vietnam: Mitsui make final investment decision for the development of Vietnam Block B gas field
Mitsui has made a final investment decision regarding an integrated development project ('Block B Project') encompassing an upstream gas field and a pipeline linking it to a gas-fired thermal power plant complex.
12 Mar 24
Vietnam: Fugro extends partnership with PTSC to provide marine site characterisation services in support of Vietnam’s offshore wind industry
Fugro has extended its Memorandum of Understanding (MOU) with PTSC Geos & Subsea Services to meet Vietnam’s strong demand for geophysical, geotechnical and metocean data services. Under the 2-year agreement, Fugro’s full range of marine site characterisation services and PTSC G&S’s local survey capabilities will support Vietnam’s growing offshore wind industry.
28 Jan 24
Vietnam: Tokyo Gas establishes Thai Binh LNG Power Joint Stock Company for the development of LNG to power project in Thai Binh Province, Vietnam
Tokyo Gas Co has announced the establishment of the Thai Binh LNG Power Joint Stock Company for the development of an LNG to power project in Thai Binh Province, Vietnam together with Truong Thanh Viet Nam Group, a company in Vietnam, and Kyuden International Corporation, a global IPP in Japan.
26 Jan 24
Vietnam: Jadestone Energy signs Gas Sales Heads of Agreement for Nam Du & U Minh fields offshore Vietnam
Jadestone Energy has signed a Heads of Agreement with PetroVietnam Gas Joint Stock Corporation ('PV Gas') for the Gas Sales and Purchase Agreement ('GSPA') relating to the Nam Du and U Minh ('NDUM') gas fields development offshore Vietnam.
18 Jan 24
Vietnam: Coro Energy provides update on Vietnam project funding
Following six months of negotiation and due diligence, HDBank of Vietnam has provided Coro Energy with an in principle commitment letter to provide debt finance for its previously announced 50MW MOU with Mobile World Investment Corporation to install rooftop solar systems across their portfolio.

Vietnam - more news

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