11:00 | 10/11/2017 Industry
At the meeting with Mr. Do Thang Hai, Deputy Minister of Industry and Trade, Mr. Ajay Shah, Vice President of Royal Dutch Shell expressed the desire to strengthen cooperation with Vietnamese enterprises in oil and gas field and presented several potential opportunities for cooperation with PetroVietnam.
Deputy Minister Do Thang Hai welcomed and high appreciated proposals of Shell and believed that the cooperation between Shell, a worldwide leading oil and gas group and Vietnamese enterprises will certainly bring benefit to both sides.
The Deputy Minister also informed a number of major directions of the Vietnamese government in the development planning of oil and gas industry by 2025 and prospects until 2035, including the development of LNG and processing and distribution of oil and gas products.
The kerosene of Shell was in Vietnam market from 1894, and after a long interrupted period Shell has returned to Vietnam since 1988 when Vietnamese government issues the Law on Foreign Investment. Right after that, Shell signed the first product sharing contract (PSC) on oil and gas exploration in Da Nang and Vung Tau offshore fields. However, the exploratory results showed that the fields have no business reserves, so the upstream activities of Shell were terminated in 1996.
The marketing and business developing (downstream) activities of Shell started in 1989 together with the establishment of Shell International Representative Offices in Hanoi and Ho Chi Minh city four years later.
Today, Shell is operating in Vietnam as a legal entity of Vietnam Shell Company Ltd.