President cum CEO of Idemitsu Kosan and the delegation paid a visit to Petrovietnam

On February 2, 2023, at the headquarter of the Vietnam Oil and Gas Group (Petrovietnam), Mr. Shunichi Kito, President and Chief Executive Officer of Idemitsu Kosan Co., Ltd. (IKC, Japan), and the delegation visited and worked with the leaders of Petrovietnam. On behalf of Petrovietnam leaders, Chairman of the Board of Directors Mr. Hoang Quoc Vuong, Deputy CEO Dr. Le Xuan Huyen and representatives of the Group’s departments/offices cordially welcomed the delegation.

In this first-time meeting with Petrovietnam’s leaders, IKC President and CEO Shunichi Kito thanked Petrovietnam’s leaders during the past time for creating favorable conditions and working closely with IKC and its subsidiaries to effectively implement cooperation projects between the two sides in the upstream and downstream fields, notably the Sao Vang-Dai Nguyet gas exploration and development project and the Nghi Son Refinery and Petrochemical Project.

Mr. Sunichi Kito expressed his wish that PetroVietnam would continue to cooperate closely and effectively with IKC to open up sustainable development opportunities for both sides. On this occasion, he also introduced to Petrovietnam leaders a number of IKC’s key projects expected to implement in the near future, especially a number of green energy projects as well as new development trends in the future.

Petrovietnam’s Chairman of the Board of Directors – Mr. Hoang Quoc Vuong, highly valued the positive actions from IKC and close cooperation between IKC and Petrovietnam and its member units in the implementation of key energy projects in Vietnam, making an important contribution to ensuring energy security and the economic development of the country.

Mr. Hoang Quoc Vuong said that Petrovietnam was actively implementing a green and sustainable development strategy, focusing on renewable energy projects to ensure the target of reducing energy costs and “net-zero” emissions in the spirit of COP26 commitments. In the coming time, in addition to continuing to closely cooperate and ensure the effective operation of cooperation projects between Petrovietnam and IKC, Petrovietnam leaders hoped that both sides would continue to study and promote the possibility of cooperation in the field of renewable energy.

He believed that results of positive and good cooperation between Petrovietnam and IKC, on the basis of trust – smooth communication – friendliness, would further foster the good friendship between the two countries.

On the same day, Petrovietnam CEO Dr. Le Manh Hung also welcomed and worked with Mr. Shunichi Kito and the delegation. Attending the meeting were Deputy General Director Dr.Le Xuan Huyen, Deputy General Director Mr. Le Ngoc Son and representatives of specialized departments/offices of the Group.

At the meeting, the Petrovietnam’s CEO expressed his appreciation for the visit of the IKC’s President and CEO that enhanced the spirit of cooperation between the two sides. At the same time, he acknowledged the results of IKC as the Executive in the project Sao Vang – Dai Nguyet.

Both sides’ leaders focused on positive results in energy cooperation, enhanced the economic efficiency of cooperation projects, agreed on economic development cooperation associated with environmental protection, in accordance with the trend of energy transition. The IKC top leader also expressed IKC’s desire to contribute to the sustainable development of Vietnam.​​​​​​​

Dr. Le Manh Hung discussed with Mr. Shunichi Kito

​​​​​​​Regarding the Nghi Son Refinery and Petrochemical Project, the two sides affirmed that this is a big project, a highlight for bilateral and multilateral relations, and discussed a number of solutions to help overcome core difficulties during the process of implementing projects and promoting cooperation between related parties.

Petrovietnam CEO Dr. Hung emphasized that both sides are partners in capital contribution and in people, so it is necessary to respect trust and cooperation with each other with determination and endless efforts to solve difficulties and obstacles in a timely and transparent manner in the implementation process, quickly putting the project into effective operation.

Mr. Shunichi Kito thanked PVN’s CEO for his sharing, affirming that being partners play a very crucial role, expressing his belief in a new step in the positive cooperation between Petrovietnam and IKC. He believed that Petrovietnam and IKC would continue to cooperate closely, achieve more success in the coming time, contributing to promoting the comprehensive strategic partnership between the two countries.