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PetroVietnam Awards Contract to U.S. Firm to Build New Refinery Complex

To assist PetroVietnam build its Nghi Son Refinery, USTDA organized a reverse trade mission to the United States for senior procurement officials, introducing them to leading petrochemical companies who could play a leading role in its implementation. Based on business connections made during the visit, UOP, a U.S. company based in Des Plaines, Illinois, received a technology licensing contract which has resulted in over $20 million in new exports to Vietnam for the implementation of the Nghi Son Refinery. As construction continues, U.S. companies are positioned to win contracts totaling over $330 million to provide gas and steam turbines, compressors, and pumps. Construction of the refinery began in April 2010 and will be operational by the end of 2013. Once the refinery comes online it will meet 50 percent of the domestic demand for oil products in Vietnam, strengthening Vietnam's national energy security.