Thomas Damecour, Country Manager for Fircroft Vietnam, discusses the oil and gas industry and our current opportunities in the region.
Vietnam, the third largest oil producer in Southeast Asia, has been a significant player in the oil and gas market for more than 25 years and is considered a major supplier in the region. The country has increased exploration activities in areas such as Algeria, Malaysia, Mongolia and Indonesia to allow for a rise in foreign investment. This has led to a large increase in accessing crude oil reserves, which reached 4.4 billion barrels in 2013, up from 0.6 billion in 2011.
Vietnam currently exports their crude oil and import refined oil from China, and the country is looking to change this balance to become more independent so their long term focus is on new refineries.
Influence of PetroVietnam
PetroVietnam was established in 1977 and remains the key stakeholder in the country, acting as the main operator and regulator. They are closely involved with Vietnam’s only existing refinery, Dung Quat, which began operating at 100% production in 2010. Petrovietnam have a key role in the plan to increase refining capacity by 2017 with the newly planned Nghi Son refinery. International oil companies are present in the country and have formed closed partnerships with PetroVietnam due to the need to negotiate upstream licences.
Our office in Ho Chi Minh opened in April 2008 as a representative office, and was granted a business licence in November 2011. Currently employing eight permanent members of staff, our Vietnamese office is in the ideal location to work with all the major international oil and gas companies and maintain our relationships with our clients, contractors and candidates. Our staff attends regular networking events, and our mixture of international and local employees has made a durable impression with clients and candidates in Ho Chi Minh. Fircroft Vietnam now has a long experience in administration of contractors, with a successful track record in tax administration and work permit applications for multiple nationalities.
Living and working in Vietnam is a great experience; having worked as Country Manager for the last three years, I continue to recognise how much I enjoy being in such a vibrant region of Southeast Asia. As for the social life here, I cannot complain; the food is fantastic and there is a real sense of community wherever you go.
Moreover, with the oil and gas industry here constantly on the rise and our office consistently growing, the future looks positive and encouraging for business. One major client recently made a large discovery and is looking to develop the project offshore in 2017. Fircroft is their preferred supplier in Vietnam, meaning we have numerous permanent and contract roles to recruit for here in the future, which is positive news for both the business and our contractors. In 2013, Fircroft launched a Vietnamese microsite
To learn more about our currently available opportunities take a look here