NSRP Complex is located 260km away from Hanoi capital in Nghi Son Economic Zone, Tinh Gia District, Thanh Hoa Province, one of the biggest provinces in Vietnam. Estimated total investment cost of NSRP Project is approximately $9 billion, of which sponsor contribution is about $4 billion. The refinery has capacity to process 200,000 barrels of crude oil imported from Kuwait per day (equivalent to 10 million tons per year). Type of fuel that accounts for biggest portion of products is premium diesel (2,204 kt/year), following by regular diesel (1,470 kt/year), RON 92, RON 95 (1,153 kt/year), LPG, jet fuel and numerous petrochemical products.
Grabbing the opportunities brought to Vietnam from the opening world, NSRP Project is a joint-venture project sponsored by 4 corporations:
- Vietnam Oil and Gas Group (PetroVietnam)
- Kuwait Petroleum Europe B.V. (KPE) from Kuwait
- Idemitsu Kosan Co., Ltd
- Mitsui Chemical Inc. from Japan.
The Project, a mega refinery and petrochemical complex, is devoted to the energy security of Vietnam, particularly the security of petroleum products. This is strategically important for the Government of Vietnam to meet the growing domestic demand for refined and petrochemical products driven by rapid industrialization and modernization of the country. Operation of the Project will be one of the major steps for the country to achieve self-sufficiency in refined products and secure energy sources. In addition, the Project will be the largest-ever FDI in Vietnam to date and therefore the success of the Project is the key to attract further foreign investments into Vietnam, especially the investors from Japan and Kuwait.
The Project's important milestones
April 09th, 2008
The Joint Venture Agreement was signed
July 22nd, 2013
EPC works started on July 22nd, 2013, carried out by a Consortium as EPC Contractor. The Consortium is comprised of JGC Corporation (Japan) as the leader and other members: Chiyoda (Japan), GS E&C (Korea), SK E&C (Korea), Technip France (France) and Technip Geoproduction (Malaysia).
The end of April 2017
NSRP achieved mechanical completion of its refinery at the end of April 2017, a landmark milestone for this mega nationally important project. NSRP has now commenced commissioning and start-up activities.
February 28th 2018
The Ready For Start Up (RFSU) certificate was signed between NSRP and the EPC Contractor JGCS.
1st May 2018
NSRP launched its first commercial product MOGAS RON92
November 14th 2018
After 18 months of commissioning, NSRP had achieved the Initial Acceptance milestone on November 14th 2018 and start Commercial Operation phase
December 23th 2018
The Commercial Operation Ceremony were organized on December 23th 2018.