General Director of Vietnam Oil and Gas Group resigns
Mr. Nguyen Vu Truong Son's resignation request must be considered and decided by the State Capital Management Committee at Enterprises and the Prime Minister.
Mr. Nguyen Vu Truong Son - General Director of Vietnam Oil and Gas Group (PVN) has submitted his resignation to the group's Board of Members. Mr. Son's resignation was sent many days ago, but it was not until March 12 that the PVN Board of Members met and agreed to consider Mr. Son's resignation.
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Mr. Nguyen Vu Truong Son - General Director of PVN.Photo: PVN |
According to the procedure, whether or not Mr. Son can resign from the position of General Director of PVN needs the approval of the governing body - the State Capital Management Committee at Enterprises and the Prime Minister to consider and decide.
Mr. Nguyen Vu Truong Son has worked in the oil and gas industry since 1987 and has held many important positions at member companies of PVN, such as Deputy General Director of Vietsovpetro and Director of the Oil and Gas Exploitation Enterprise, Director, Deputy Party Secretary of the Oil and Gas Exploitation Enterprise under Vietsovpetro...
In July 2009, Mr. Son held the position of General Director of the Oil and Gas Exploration and Production Corporation (PVEP). In February 2012, Mr. Son was Deputy General Director of PVN for 4 years. In March 2016, he was appointed General Director of PVN, member of the Board of Members and has held this position since then.
During the time Mr. Son was General Director of PVEP, this enterprise implemented many investment projects abroad, one of which was the Junin 2 heavy oil exploitation project in Venezuela.According to the investment certificate issued by the Ministry of Planning and Investment in 2012, in phase 1 (2010-2015), PVEP poured about 1.82 billion USD into this project. According to initial calculations, the exploitation capacity of phase 1 of the project reached 50,000 barrels of oil per day, and phase 2 increased to 200,000 barrels of oil per day.
Junin 2 Block has a total exploitation area of 522.84 km2 onshore in the districts of Leonardo Infante, El Socorr, Santa Maria, Guarico State, Venezuela. To implement the project, PVEP contributed 40% of the capital and together with the Venezuelan National Oil Company established the PetroMacareo Joint Venture Company. However, the project did not progress and in December 2013, the Prime Minister directed PVEP to temporarily suspend investment in the project.
