Việt Nam, RoK see ample room for cooperation in energy, offshore services

Việt Nam, RoK see ample room for cooperation in energy, offshore services

The combination of the RoK’s technology and implementation experience with Việt Nam’s data and research capabilities is expected to create a stepping stone for the execution of large-scale energy projects in the near future.

Jung Jung Tae, Consul General of the RoK in HCM City speaks at the workshop. —Photo courtesy of the organiser

Việt Nam and the Republic of Korea (RoK) possess considerable potential for collaboration in energy and offshore services, experts noted during an international workshop in HCM City on November 11.

The event was joint organised by the Vietnam Petroleum Institute (VPI), a member of the Vietnam National Industry-Energy Group (Petrovietnam), and the Korea Maritime and Ocean University (KMOU) as part of the Korea–Vietnam Offshore Service Industry Week 2026.

Jung Jung Tae, Consul General of the RoK in HCM City, said Việt Nam is pursuing two parallel goals of ensuring a stable energy supply for economic growth and accelerating the energy transition towards carbon neutrality. Under the adjusted Power Development Plan VIII, it aims to develop 6–17 GW of offshore wind power during 2030–35, with a long-term target of up to 139 GW by 2050.

Offshore oil and gas development remains important to national energy security, he said, noting that major projects, including the Block B–Ô Môn gas chain, new oil fields, and the operation and maintenance of existing facilities are helping to sustain demand for offshore engineering services.

Meanwhile, the RoK has strengths in shipbuilding and offshore engineering, ranging from design and fabrication to transportation, offshore installation, safety management and integrated project management, Jung said. The country also has extensive experience in liquefied natural gas (LNG) and floating storage and regasification units (FSRUs), while expanding into offshore wind and green energy.

Combining the RoK’s technology and project management experience with Việt Nam’s industrial base and understanding of local conditions could create new business opportunities in offshore maintenance, conversion, decommissioning and wind power, he added.

The Korea–Vietnam Offshore Plant Service Industry Cooperation Centre (KOVOSI), a joint initiative of VPI and KMOU’s Education Technology Research Support Centre, is expected to serve as a long-term platform connecting businesses and research institutions of the two countries.

The Consulate General said it will actively support business networking, helping to establish offshore engineering and construction services as a new area of cooperation between Vietnam and the RoK.

Phạm Quy Ngọc, head of the gas, power and new energy division at VPI’s Petroleum Processing Research and Development Centre, said that Vietnam’s total power capacity is projected to reach 183–236 GW by 2030, while electricity demand could double by that year and increase four to fivefold by 2050.

LNG, offshore wind and nuclear power will play an important role in the new power mix, alongside continued investment in renewable energy, power grids and flexible power sources, he said.

VPI has identified opportunities across the LNG value chain, offshore wind, offshore services and decommissioning, hydrogen and other new energy sectors. It is conducting research ranging from site surveys and database development to geological, geophysical and meteorological studies, environmental and safety assessments, market analysis and technology testing.

The combination of the RoK’s technology and implementation experience with Việt Nam’s data and research capabilities will create a stepping stone for the execution of large-scale energy projects in the near future, according to VPI.

Ko Jin Kyu, CEO of Hanwha Ocean, hopes to strengthen cooperation with Vietnamese partners in developing LNG infrastructure and offshore wind, while promoting supporting industries for the energy transition. He introduced the company's capabilities across the LNG value chain and shared experience in wind turbine installation vessels, offshore substations and engineering, procurement and construction packages for offshore wind power projects.

Meanwhile, Park Young Seok, a representative of KOGAS-Tech, shared the RoK’s experience in developing its LNG ecosystem, including LNG bunkering and cold-energy utilisation, as well as hydrogen production, liquefaction and refuelling infrastructure.

Regarding the RoK–Vietnam offshore cooperation strategy, KMOU’s ETRS Centre proposed four key cooperation programmes, namely LNG and FSRUs, offshore wind installation and supply chain development, offshore facility decommissioning and reuse, and human resources training.

Phan Minh Quốc Bình, Vice Rector of VPI, said stronger cooperation with international partners, particularly the RoK, offers substantial potential in LNG, clean hydrogen, offshore wind and offshore facility decommissioning.

He expressed his hope that research institutions, training establishments and businesses from both countries will step up information and experience exchanges and identify concrete cooperation opportunities, laying the groundwork for effective joint projects in the future. 

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