Petro Drilling Viet Nam

2009 RMIT University Vietnam DANG BICH HONG s3231326 [PV drill & international axerophtholere; Well Services JS Co] I. manufacture Overview Since the Doi Moi period, Vietnam has open its door for adapting new-sprung(prenominal) business environment and pert technology, business conducts, abroad investments, and so forth The boorish has boosted exploration activities and has allowed more foreign company fight in the cover 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 monetary crisis.

As the result, the countrys anele industry has alike gone under significant developments from 1986 when it launches the first production in Bach Ho oil field. After two decades, Vietnam held 600 zillion barrels of proved oil reserves as of January 2007 and in general argon located offshore according to the rock oil & Gas Journal (OGJ). Moreover, EIA forecasts that the countrys oil production will squeeze forth above 400,000 bbl/day in 2008(Petroleum industry). other 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 emergence to 4.69% by 2012. Vietnams oil sector is dominated by the state-owned Vietnam inunct & Gas Corporation (PetroVietnam), which is under the hold fast trend of the Ministry of Industry. All oil production in the country is carried give away through more than 57 different types of contracts between PetroV ietnam(PVN) and its foreign partners under s! uch as Schlumberger, Haliburton, Mobil, BP, etc( PVD Annual Report 2008) Although the country crude oil export has been increasing, Vietnam liquid needs to signification refined oil for domestic use. Oil being a scarce resource and accounts for 50% of fall energy consumption in Vietnam. As the result, Vietnam is investing in a few 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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