Decision to appoint Member of Board of Directors, General Director of Vietnam Oil and Gas Group

On the morning of March 4, the Vietnam Oil and Gas Group (PVN) held a ceremony to announce the decision to appoint Mr. Nguyen Vu Truong Son as Member of the Board of Members and General Director of the Group.

At the ceremony, Comrade Cao Quoc Hung, Deputy Minister of Industry and Trade, on behalf of the leaders of the Ministry of Industry and Trade, presented the Decision on appointing a member of the Board of Members to Comrade Nguyen Vu Truong Son. Comrade Nguyen Quoc Khanh, Chairman of the Board of Members of the Vietnam Oil and Gas Group, presented the Decision on appointing the General Director of the Group to Comrade Nguyen Vu Truong Son.

Chairman of the Board of Directors of PVN Nguyen Quoc Khanh presented the decision to appoint the General Director for comrade Nguyen Vu Truong Son.

Speaking at the inauguration ceremony, PVN General Director Nguyen Vu Truong Son expressed his sincere thanks to the leaders of the Party, Government, Ministry of Industry and Trade, leaders of the Group and all oil and gas workers for their trust and confidence in assigning him this important responsibility and task. General Director Nguyen Vu Truong Son promised to unite with the leaders and employees of the entire Group to strive to build a developed Group, worthy of being the economic pillar of the country.

Deputy Minister of Industry and Trade Cao Quoc Hung presented the decision to appoint a member of the PVN Board of Directors to comrade Nguyen Vu Truong Son.

In his new position, comrade Nguyen Vu Truong Son proposed a number of key tasks: First, focusing on human resources solutions, building a human resources development strategy. Second, solutions for restructuring and corporate governance, continuing to perfect the organizational and management model towards streamlining and efficiency, applying governance methods according to international standards. Third, solutions on capital sources, maintaining investment plans for key projects until 2020, immediately balancing cash flow and capital mobilization plans to promptly respond to the current low oil price situation. Fourth, solutions on investment governance, the main goal is to maximize savings on investment costs for projects and works, reviewing investment activities with focus and key points. Fifth, protecting sovereignty over seas and islands, the Group will proactively coordinate with relevant ministries, branches and localities to continue implementing oil and gas activities associated with protecting sovereignty; create conditions for foreign investors to maintain their presence and carry out operations in permitted areas.

Comrade Nguyen Vu Truong Son was born on August 10, 1962, in Hanoi. He has a master's degree in system technology, an engineer specializing in oil and gas exploitation technology, and graduated from Baku Petrochemical University (Azerbaijan Republic, former Soviet Union) in 1986. He has worked at the Vietnam-Soviet Oil and Gas Joint Venture (Vietsovpetro) since 1987 and has become an experienced expert in the field of oil and gas exploitation and development. In June 2005, he was appointed Director and Deputy Secretary of the Party Committee of the Oil and Gas Exploitation Enterprise under Vietsovpetro. In March 2009, he was appointed Deputy General Director of Vietsovpetro and Director of the Oil and Gas Exploitation Enterprise. In July 2009, he was appointed General Director of the Oil and Gas Exploration and Production Corporation (PVEP). In February 2012, he was appointed Deputy General Director of Vietnam National Oil and Gas Group.

According to the Communist Party of Vietnam