Key facts
- Le Manh Cuong said Petrovietnam will use offshore drilling experience to develop offshore wind farms.
- Le Manh Cuong said a Middle East war briefly left the group with no single drop of fossil fuel.
- Dang Thanh Tung said Petrovietnam will keep domestic oil and gas output going through technology and new policies.
- Dang Thanh Tung said the group is preparing an offshore wind ecosystem and conditions to join nuclear plant development.
- Dang Thanh Tung said Petrovietnam is working with partners in Russia and seeking exploration opportunities elsewhere.
Petrovietnam President and CEO Le Manh Cuong said on November 4, 2026 that wind and nuclear power are the state energy group's future, after a Middle East war briefly left it with no single drop of fossil fuel, Nikkei Asia reported.
Le Manh Cuong said Petrovietnam intends to use its decades of offshore drilling experience to develop offshore wind farms, an endeavor he called somewhat similar to its existing work.
At a forum on the development of Vietnam's oil and gas industry, Dang Thanh Tung, deputy head of development strategy at Petrovietnam, set out the group's strategic directions. He said Petrovietnam will keep domestic oil and gas output going through technology and new policies, including steps to raise recovery rates and extend the life of small, marginal and long-producing fields, with the new Petroleum Law expected to help.
Dang Thanh Tung said the group is putting resources into key projects including the Lot B O Mon gas-to-power chain and expects progress on others including Blue Whale. Petrovietnam will keep expanding exploration and production abroad, working with partners in Russia and looking for opportunities elsewhere, he said.
He said Petrovietnam is also developing an LNG value chain, preparing an offshore wind ecosystem that includes supplying services and manufacturing, and getting ready to take part in building and operating nuclear plants as assigned by the government. He said such projects need very large capital, take long to recover and face oil and gas price swings, and that ordering turbines for a power plant can take at least four years to deliver.