Vietnam’s energy ambitions are entering an exciting new phase with Petrovietnam at the forefront. A recent strategic meeting with UK-based Pharos Energy highlights the Group’s determination to strengthen international partnerships as it expands beyond oil and gas into broader industrial and energy leadership.
Petrovietnam, recently rebranded as the Vietnam National Industry and Energy Group, continues to assert its role as the engine of Vietnam’s energy and industrial future. The name change is more than a rebranding exercise; it signals a major shift in strategic vision, positioning the Group as the driving force behind the nation’s industrial and energy sectors. With energy remaining the central pillar, Petrovietnam is leveraging its legacy in oil and gas to fuel wider industrial growth and service expansion.
During a pivotal meeting on 18 April, Petrovietnam’s General Director, Le Ngoc Son, met with Ms. Katherine Roe, CEO of UK-based Pharos Energy, to explore new dimensions of cooperation in oil and gas exploration and production. Pharos Energy, formerly known as SOCO, has a longstanding relationship with Vietnam and views the country as one of the most promising markets in Southeast Asia. Both sides reaffirmed their commitment to advancing current projects while seeking fresh opportunities that build on their successful history of collaboration.
Le Ngoc Son highlighted recent milestones that reflect Petrovietnam’s proactive approach. Key agreements such as the Petroleum Product Sharing Contract for Block 15-2 with Japan Vietnam Petroleum Company (a subsidiary of Japan’s ENEOS Xplora), and the extension of the PSC for Block PM3-CAA with Malaysia’s Petronas, stand as clear evidence of the Group’s ability to foster productive partnerships. These initiatives not only strengthen Vietnam’s energy security but also reinforce its attractiveness as an investment destination.
The dialogue with Pharos Energy went beyond existing projects. Both parties discussed expanding their collaboration in new oil and gas blocks across Vietnam, recognising the country’s robust regulatory framework and supportive investment environment. Vietnam’s consistent policy direction and Petrovietnam’s strategic leadership provide a stable foundation for long-term investments. Pharos Energy’s CEO expressed strong confidence in Vietnam’s future, praising Petrovietnam’s commitment to supporting international partners.
Le Ngoc Son underscored the mutual benefits that such partnerships deliver. Beyond commercial success, these relationships build trust and deepen ties between Vietnamese and international energy leaders. He thanked Pharos Energy for its ongoing dedication to Vietnam’s energy sector and expressed optimism for even greater achievements through continued collaboration.
The meeting’s warm and cooperative tone reflected the shared vision of both organisations—committed to unlocking Vietnam’s full energy potential while advancing sustainable industry growth. As Vietnam’s energy landscape evolves, partnerships like these will play a crucial role in delivering the resources, expertise, and innovation required to power the nation’s development for decades to come.
Vietnam National Industry and Energy Group, known globally as Petrovietnam, is the leading state-owned enterprise driving Vietnam’s energy, industrial, and service sectors. With a strategic focus on oil and gas, renewable energy, and industrial growth, Petrovietnam is committed to securing Vietnam’s energy future through domestic leadership and international cooperation.
Pharos Energy Plc (LON:PHAR) is an independent energy company with a focus on delivering long-term sustainable value for all stakeholders through regular cash returns and organic growth, underpinned by a robust cash flow and resilient balance sheet.
