Petrovietnam Exploration Production Corporation (PVEP) has officially partnered with FPT Corporation to consult on the development of a comprehensive digital transformation strategy for the 2025-2030 period. With the aim of optimizing operations and building a strong digital culture foundation, this strategic project will help PVEP swiftly adapt to global innovations in the oil and gas industry, ensuring sustainable growth.
Petrovietnam Exploration Production Corporation (PVEP), the leading company in the field of oil and gas exploration and extraction under the Vietnam Oil and Gas Group, has officially launched the Digital Transformation Strategy Consulting Project in collaboration with FPT Corporation. The launch ceremony took place on December 26, 2024, in Hanoi, marking an important step forward in modernizing operations, enhancing business efficiency, and maintaining PVEP’s leadership position in the oil and gas industry.
In 2024, PVEP achieved impressive results, including a total extraction volume of 3.05 million tons of oil equivalent, exceeding the plan by 29 days. Estimated revenue reached VND 41.5 trillion, with VND 18.1 trillion contributed to the state budget, achieving 159% of the target. Notably, PVEP invested over VND 20.6 trillion in key projects and was recognized as one of the Top 10 Most Innovative and Efficient Enterprises in Vietnam, reaffirming its competitive strength and sustainable development strategy. However, these results are just the beginning of PVEP’s journey to embrace new challenges in the digital era.
In line with the direction from PetroVietnam, the PVEP Party Committee issued Action Program No. 03/CTr-ĐU on April 12, 2022, laying the foundation for digital transformation solutions. Recently, on September 10, 2024, the PVEP Party Central Committee issued Decision No. 208-QĐ/ĐU, strengthening the Digital Transformation Steering Committee under the direct leadership of Mr. Nguyen Thien Bao, Party Secretary, and Chairman of the Board of Directors. This move clearly demonstrates the strong commitment of PVEP’s leadership to make digital transformation a core strategy.
The oil and gas industry, particularly the exploration and extraction sectors, is witnessing rapid changes with increasingly stringent requirements. Given the complexity and scale of the industry, PVEP needs to implement digital transformation with a comprehensive strategy and clear roadmap that aligns with actual conditions.
The digital transformation project at PVEP is expected to not only improve operational efficiency but also enhance risk prediction and management capabilities, build a strong digital culture, and ensure long-term sustainable development. FPT, with its deep consulting expertise and experience, will accompany PVEP in shaping a systematic transformation roadmap to meet the complex challenges of the oil and gas industry, paving the way for sustainable development in the future.
At the event, Mr. Nguyen Thien Bao, Party Secretary and Chairman of the Board of Directors of PVEP, affirmed that digital transformation is an inevitable path for PVEP to maintain its dominant position in the oil and gas industry. He emphasized that digital transformation not only optimizes production and management operations but also lays the foundation for a profound digital culture, building a workforce ready to adapt and lead in the technological era. PVEP is determined to foster a strong digital culture, encourage open-minded thinking, promote innovation, and enhance working methods in a digitalized environment. He expects the project to bring comprehensive change, contributing not only to PVEP but also driving the development of the entire oil and gas industry in Vietnam.
With extensive experience in successfully implementing digital transformation at leading oil and gas companies in Vietnam such as Vietsovpetro, PVOil, Petrolimex, along with other multi-industry enterprises, FPT is a trusted partner accompanying PVEP from the outset of its comprehensive digital transformation phase with the FPT Digital Kaizen™ methodology. This methodology, based on more than 35 years of experience in digital transformation, draws on both FPT’s practical experience and its work with major global partners.
Mr. Hoang Viet Anh, Chairman of FPT Digital, shared that this close collaboration is a testament to FPT Digital’s commitment to supporting PVEP on its digital transformation journey. He is confident that “with the 2030 vision, we will accompany PVEP in increasing value, expanding operations domestically and internationally, and continuing to affirm its position in the oil and gas industry.”
The digital transformation project at PVEP is expected to be implemented within six months, with strong commitment and determination from both parties across all aspects, including surveying and evaluating current digital capabilities, building a digital transformation roadmap for 2025-2030, and organizing training and developing a digital culture at PVEP.
PVEP’s Chairman of the Board of Directors, Nguyen Thien Bao, emphasized that the digital transformation project is expected not only to bring substantial improvements in productivity and management efficiency but also to foster innovation and creativity across all activities. This is not just a short-term strategy but a long-term commitment to building an intelligent, sustainable operating platform that meets the stringent requirements of the oil and gas industry in the future. With the collaboration with FPT, PVEP is confident in realizing its vision of becoming a leader in digital transformation in the oil and gas exploration and production sector, contributing to the sustainable development of the oil and gas industry in Vietnam and the region.
