Project signing: Strategy development for digital transformation at Vietsovpetro

Project signing: Strategy development for digital transformation at Vietsovpetro

On March 30 afternoon, Vung Tau City (Ba Ria-Vung Tau province), the Vietnam-Russia joint venture Vietsovpetro officially kicked off the project of developing an overall strategy for digital transformation and public infrastructure development information technology (IT). This crucial step in Vietsovpetro’s community roadmap was agreed upon by the leaders of Vietnam and the Russian Federation at the recent 54th and 55th Vietsovpetro Council Meetings.

Mr. Truong Quoc Lam – Chief of Office of the Group and representatives from the Group’s departments attended the online event on the side of Vietnam Oil and Gas Group. On the side of Zarubezhneft Joint Stock Company, attending the event online were Mr. Maksimov Denis Nikolaevich, Deputy General Director of Economics and Finance, and a representative from Zarubezhneft’s boards. Mr. Alexander Igorevich Mikhailov attended the Hall – Head of the Russian-Vietnamese Projects Department of Zarubezhneft Company, General Director of Zarubezhneft EP Vietnam.
Attending the Kick-off Ceremony at Vietsovpetro’s headquarters were leaders of Vietsovpetro and leaders of the FPT-Petrosouth partnership contractor; representatives of socio-political organizations, leaders of operating apparatus departments, and member units of Vietsovpetro.

Image 1: An overview of the kickoff event

The kick-off event for the project on developing an overall strategy for digital transformation and development of IT infrastructure was held to mark the beginning of implementation of the contents assigned to Vietsovpetro by Vietnam and the Russian Federation at the 54th and 55th Vietsovpetro Council meeting, simultaneously carried out Contract No. 0282/23/T-N5/CNTT1-FPTPETROSOUTH signed on March 24, 2023, with the duration of 270 days from the Signature Date between Vietsovpetro and the joint name contractor, FPT-Petrosouth.

Image 2: Mr. Tran Quoc Thang, Deputy Head of the Digital Transformation Steering Committee – Deputy General Director of Science and Technology Vietnam – Russia Joint Venture Vietsovpetro, sharing at the event

In his speech, Mr. Tran Quoc Thang – Deputy Head of the Digital Transformation Steering Committee – Deputy General Director of Science and Technology Vietnam – Russia Joint Venture, Vietsovpetro emphasized three core requirements for the digital transformation project of Vietsovpetro: When developing a digital transformation strategy and the IT Master Plan, it is necessary to ensure utilizing the existing IT infrastructure, management software, and production software. Digital transformation shall result in practical effects for the production. The consulting contractor must specify benefits and calculations for the economic efficiency of each stage corresponding to the digital transformation roadmap. Furthermore, the digital transformation for production activities of Vietsovpetro must be suitable for the development strategy of Petrovietnam, considering the experience of Zarubezhneft and Rusvietpetro.
Vietsovpetro specified: “Digital transformation is a vital, necessary, inevitable trend”. When completing the project category, in addition to the “sustainable development, environmental assurance, labor productivity”, there are multiple further advantages of “shortening the process of transmitting broadband information from sea to shore, putting technology of industry 4.0 into production operations and sailing schedule, meeting the requirements of increasing labor productivity, reducing working hours, safety in the production process in oil and gas exploitation on the continental shelf of Vietnam…”.
The representative of Vietsovpetro stated that after the research process and detailed preparation associated with production and business activities at Vietsovpetro for consulting tasks, as well as conducting an objective, fair and transparent contractor selection process, Vietsovpetro has selected and signed a contract with the FPT-Petrosouth partnership contractor to develop an overall strategic consultant on Vietsovpetro digital transformation and IT system development (IT Master Plan).

Image 3: Two Parties signing the agreement using digital signatures

At the ceremony, Mr. Tran Quoc Thang – Deputy General Director of Science and Technology, and Mr. Tran Huy Bao Giang – General Director of FPT Digital signed an agreement to launch the project in the form of digitization with the signing being performed and displayed on mobile devices.
Mr. Le Hung Cuong – Deputy General Director of FPT Digital presented the overall progress of the 9 months duration project with four key milestones. Which, the first phase is Project Kickoff. The second phase is to assess the current status and digital capacity/digital development capacity of Vietsovpetro, including the assessment of digital transformation trends/results in the operations of upstream Oil and Gas companies. The third phase is developing a vision and a strategy/Digital Transformation Program for Vietsovpetro. This phase consists of 5 groups of work: Developing a digital transformation vision and strategy/program; Building high-level structures according to the overall business structure model for digital transformation; Creating a digital transformation roadmap; Developing a detailed approach and digitalization plan to build digital capacities and culture; Assess, manage and develop risk response measures when implementing digital transformation strategy. Phase four is Developing a suitable IT system development plan (IT-Master Plan) for Vietsovpetro’s Digital Transformation program.

Image 4: Mr. Le Hung Cuong, Deputy General Director of FPT Digital, presenting the survey process for the current digital status of Vietsovpetro

Sharing at the project kick-off event, Mr. Nguyen Van Khoa – General Director of FPT Corporation stated: “Vietsovpetro and FPT share many commonalities. First, many FPT leaders once studied in the Soviet Union. Secondly, both businesses were established during a difficult period in the country, then went through a period of integration, and transition along with the global change, and now both are entering the stage of world economic fluctuation. Above all, both businesses are creating thousands of jobs for employees, contributing practical values to the country, and economic development, and creating a better life for the people.

Image 5: Mr. Nguyen Van Khoa – General Director of FPT making a speech at the event.

Furthermore, FPT has accumulated practical experience through consulting digital transformation projects for many key fields such as oil and gas, energy, electricity, and digital transformation within FPT itself. I believe that the project will be a great success, and will become a typical example of the Vietnamese oil and gas industry, making Vietsovpetro a pioneer in digital transformation of the Vietnam Oil and Gas Group. We commit to accompany Vietsovpetro with the best experts, ensure security, and data privacy, and above all, to lead the project to success.”

Other news
01. Digital Transformation – Methodology & Implementation Experience Workshop at Traphaco 02. Cat Tuong Group cooperated with FPT Digital to organize a seminar on Digital Transformation 03. FPT Digital wins “Customer First” badge from Gartner Peer Insights™ 04. FPT Digital reported on the current status and digital transformation framework at PVFCCo
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