Offshore wind power investment - PVN proposes to remove difficulties for many projects, including Blue Whale

The Government Office has just issued a document to collect opinions on the report on production and business activities of the National Oil and Gas Group of Vietnam (PVN), as a basis for submitting to the Prime Minister for consideration and decision the proposals of the National Oil and Gas Group (PVN). Coporation, group.

Previously, in a report on production and business activities as well as recommendations, PVN said that in the first 7 months of the year, the group's revenue reached VND 547,700 billion, paid the state budget VND 79,600 billion and profit before tax was higher than that of the previous year plan.

However, in order to overcome difficulties, PVN has raised 4 groups of contents with 12 major recommendations, including regulations related to amending the Petroleum Law, guiding regulations on outward investment in operations. Oil and Gas.

In particular, in order to suit the new situation and realize strategic objectives of the oil and gas industry, PVN proposes to allow participation in offshore wind power investment and green hydrogen production to take advantage of its strengths in resources as well as existing infrastructure; allowing PVN to invest and manage the national reserve system of crude oil materials and petroleum products.

For thermal power plants that have been put into operation and are under construction, PVN proposes to establish a petroleum power generation branch under PVN to manage and operate Song Hau 2, Thai Binh 2 and Long Phu power plants. 1, timely access to exploit these plants.

With large investment projects, PVN also said that currently, the progress of implementing the gas - power project chain in Block B - O Mon is much behind schedule, greatly affecting the project's efficiency.

In order to promote the project to be put into operation soon according to the expected schedule of the first gas flow by the end of 2025, PVN proposes to have a decision on the issue of gas and electricity consumption for the chain of gas-electricity projects. B.

Approving the Government's policy to establish a Steering Committee on the gas-electricity project chain in Block B to ensure timely removal of difficulties and obstacles that have existed for many years, especially problems related to GGU and agreements. Commerce.

With the Long Phu 1 power project also facing many problems, PVN proposes to allow the total investment to be reset and the bidding organization to select a new EPC general contractor for the project, in parallel with the negotiation process to resolve the issue. dispute with the previous PM general contractor.

For the project of upgrading and opening up Dung Quat Oil Refinery, it is currently facing many difficulties when implementing according to previously approved parameters, which is no longer effective and feasible. Therefore, the group proposed the ministries and branches to soon consider and approve the adjustment of the project investment policy to have a basis for implementing the next steps.

Also related to the proposal of the project of General Refining and Petrochemical and the national reserve of Long Son crude oil and petroleum products, this corporation has reported to the Government the results of research on investment opportunities, so it is recommended to Ministries and sectors consider and approve the project investment policy as a basis for PVN to implement the next steps.

Regarding the Blue Whale gas-power project chain, PVN said that the implementation progress is expected to be slow after 2025 due to the adjustment of the investment strategy of the ExxonMobil contractor and problems in investment procedures.

Therefore, PVN proposes to the Government through diplomatic work to give opinions to the contractor, continue to participate and implement the project according to the schedule. Approval of project work items, when implemented, will be applied synchronously and uniformly according to the revised Petroleum Law and through the mechanism of offsetting the entire amount of gas committed under the contract.