HANOI: Domestic oil giants are currently well-positioned to pursue opportunities in offshore wind power, according to insiders.

The oil and gas sector, and offshore wind power industry, are closely related especially in surveying, project development, operation and maintenance.

They require support services like fabrication yards, ports and maintenance facilities, and both involve offshore resource extraction, tied to security and economic zones.

For substantial development in the offshore wind power industry, multinational oil and gas corporations play a vital role.

The International Energy Agency said that the oil and gas sector’s experience in executing offshore projects contributes significantly to sharing supply chains and technology.

The involvement of oil and gas corporations is crucial in expediting the transformation of the offshore wind power sector into a major industry.

Vietnam Petroleum Association chairman Nguyen Quoc Thap said that expertise in exploration, extraction, design, offshore construction, infrastructure, human resources, meteorology, hydrology, geology, marine chemistry and other relevant fields provides optimal conditions for oil and gas enterprises to participate in offshore petroleum activities.

This helps maximise investments, minimise national resource wastage, boost efficiency, and reduce production costs, he added.

In Vietnam, only major players like Petrovietnam and Vietnam Electricity are equipped to lead in offshore wind power projects, said energy expert Ngo Duc Lam.

PetroVietnam, a state-owned powerhouse, excels in offshore oil and gas, boasting tech and financial prowess and a unique edge.

It is the go-to company for offshore projects, handling everything from data investigation, international relations to security and defence.

As a key economic group, PetroVietnam ensures energy, economic and food security while spearheading green energy ventures and offshore wind power advancements since 2019.

Petrovietnam, a key player in the country’s oil and gas industry, stands out in the offshore wind industry.

With a workforce of 60,000 skilled employees, advanced infrastructure, and unique geological data, PetroVietnam excels in managing investments, acting as a principal contractor for engineering procurement and construction, and offering high-quality technical services for offshore projects.

 - ANN