Vietnam’s second largest refining and petrochemical firm, Binh Son Refining and Petrochemical JSC (BSR), will cooperate with Indian Oil of India to develop petrochemical refinery projects in Vietnam, India and third countries.
Under a Memorandum of Understanding just signed by the two enterprises in India, the two sides will evaluate cooperation opportunities in the fields of oil and gas processing and energy in Vietnam, India and third countries.
BSR and Indian Oil will join hands in developing a project on upgrading and expanding Dung Quat oil refinery; conducting an overall maintenance of Dung Quat oil refinery to improve efficiency as well as reduce costs and time and increase productivity.
The MoU is hoped to open up opportunities for cooperation between the two firms in developing process design packages (PDPs), basic engineering design packages (BEDPs) for non-copyrighted technology workshops and workshops using indigenous technology of Indian Oil.
The two sides will promote research and development (R&D), especially research and improvement of petroleum products, alternative fuels and fuel additives as well as optimize the production process of oil refining and energy conversion plants. They will also cooperate in providing consulting services in the supply and processing chain of petroleum products related to overall maintenance management, and support for project management.
Indian Oil is one of the leading firms in the region in refining oil, transporting crude oil and petroleum products, petrochemical production, and trading gas, petroleum and chemical products in India and abroad.
Binh Son Refining and Petrochemical JSC is a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam). BSR is managing and operating Dung Quat oil refinery plant in Quang Ngai province. The firm has laid the foundation for the development of Vietnam’s petroleum refining and petrochemical industry.