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

16 Dec 20
Vietnam: KrisEnergy provides update on farm-out agreement for Vietnam Block 115/09
KrisEnergy has provided an update on the farm-out agreement with a major international oil and gas company for the transfer of its entire 100% working interest in the Block 115/09 production sharing contract, offshore Vietnam for a nominal cash consideration.
11 Nov 20
Vietnam: Jadestone Energy announces settlement in respect of Vietnam dispute
Jadestone Energy has announced settlement of a dispute with Teikoku Oil, a wholly owned subsidiary of INPEX Corporation, in respect of Block 05-1 PSC, offshore Vietnam.
11 Sep 20
Vietnam: Pharos Energy receives TGT Full Field Development Plan approval
Pharos Energy gas announced that it has received approval from the Prime Minister of Vietnam for the TGT Full Field Development Plan ('FFDP').
27 Aug 20
Vietnam: McDermott awarded FEED contract by Delta Offshore Energy for gas pipeline in Vietnam
McDermott International has been awarded a contract by Delta Offshore Energy to provide front-end engineering design (FEED) services for a subsea gas pipeline which will connect an offshore regassification platform to the planned 3,200 MW power plant in Bac Lieu Province, Vietnam.
20 Aug 20
Vietnam: Shearwater GeoServices receives SK Innovation 3D award offshore Vietnam
Shearwater GeoServices has received an award for a towed streamer 3D acquisition by SK Innovation, the operator of Vietnam Block 16-2.

Vietnam - more news

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