Vietnam is going through the quickest development phase ever, Nghi Son Refinery
and Petrochemical Complex (herein after: NSRP Complex), owned by Nghi Son
Refinery and Petrochemical Limited Liability Company (herein after: NSRP), is
one of the on-top economic projects that contributes to the nation’s common
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 and 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.
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
The Project's important milestones:
Joint Venture Agreement was signed on April 07th, 2008.
- 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).
- 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.
- On February 28th 2018, the Ready
For Start Up (RFSU) certificate was signed between NSRP and the EPC Contractor
- NSRP launched its first
commercial product MOGAS RON92 on 1st May 2018.
- After 18 months of commissioning,
NSRP had achieved the Initial Acceptance milestone on November 14th 2018 and
start Commercial Operation phase. The Commercial Operation Ceremony were
organized on December 23th 2018.