Russia's Zarubezhneft eyes offshore wind power in Vietnam

April 09, 2024 | 15:18

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Russian oil and gas company Zarubezhneft has expressed an interest in venturing beyond oil and gas exploitation to develop offshore wind projects in Vietnam.

Russia's Zarubezhneft eyes offshore wind power in Vietnam

The information was shared by Kudryashov Sergei Ivanovich, general director of Zarubezhneft, at a meeting with Prime Minister Pham Minh Chinh on April 8.

Zarubezhneft has been working with Vietnam's state-run oil and gas group PetroVietnam for more than 40 years, alongside two joint ventures, Vietsovpetro and Rusvietpetro, in geological exploration and oil and gas exploitation.

Ivanovich said that Zarubezhneft is completing procedures to carry out new projects in Vietnam, while looking to expand its partnerships, especially in offshore wind development.

He noted that his company is looking to expand Rusvietpetro's projects in Russia to create balanced development of oil and gas projects in both countries.

The prime minister agreed to remove obstacles raised by Zarubezhneft and welcomed the Russian company's plans to expand its partnership in the power sector. He also asked for any existing issues in Russia to be resolved, facilitating PetroVietnam's expansion of its investments in Russia. He suggested Zarubezhneft and PetroVietnam set up a working group to resolve problems, conduct research, and propose suitable partnerships.

The World Bank recently said that Vietnam has higher potential for wind power development than other Southeast Asian countries.

According to the country's Power Development Plan VIII, offshore wind power capacity for domestic use will reach about 6,000MW by 2030. A larger scale could be achieved with rapid technological development and rational transmission costs.

Vietnam prioritises oil and gas cooperation projects with Russia: PM

The Vietnamese Government always gives the top priority to oil and gas cooperation projects with Russia, said Prime Minister Nguyen Xuan Phuc at a reception for General Director of Zarubezhneft JSC Sergey Ivanovich Kudryashov in Hanoi on December 13.

Vietnam, Australia cooperate to develop offshore wind power projects

Deputy Prime Minister Tran Hong Ha received Australian Ambassador to Vietnam Andrew Goledzinowski and leaders of Corio Generation of Australia’s Macquarie Group in Hanoi on March 28.

Offshore wind industry creating thousands of high-quality jobs in Vietnam

Vietnam plans to increase its offshore wind power capacity from zero in 2023 to 6GW by 2030, with a target of 70-91.5GW of offshore wind power by 2050. To achieve this goal, investors, developers, and contractors need to prepare a skilled and high-quality workforce, especially for large-scale offshore wind projects.

By Vy Bui

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