Our Business
The Business of ENEOS Group in Vietnam started in 1990’s, after acquisition and discovery of Rang Dong Oil Field in block 15-2. In 2010’s, ENEOS Group expanded its business in the downstream segment, by establishing lubricants factory in 2013, and became strategic partner with Vietnam National Petroleum Group (Petrolimex) in 2016.
01
OIL & GAS EXPLORATION AND
PRODUCTION BUSINESS
Oil & Gas Exploration Business
Since the acquisition of Block 15-2 in 1992, the project has been one of ENEOS Xplora's key operations.
Operator and ENEOS Xplora subsidiary JVPC has been involved in the ongoing exploration and development of the block, including the production of crude oil and natural gas.
JV Paricipants and Interests
| Company Holding the Acreage | Japan Vietnam Petroleum Company (JVPC) |
|---|---|
| Shareholders (holding percentages) | ENEOS Xplora Inc. (100%) |
| Project Status | Exploration/Development/Production |
| Interest | 45% |
| Partners (interest) | PVEP (55%), PERENCO (30.5%) |
| Net Production | 3,300 BOED |
History
02 LUBRICANT OIL BUSINESS
Lubricant
Since 1997, ENEOS has been developing lubricant oil business in Vietnam. In 2014, ENEOS established a lubricant oil blending factory in Haiphong city to expand its business in Vietnam.
Company Information
| HQ and Factory | Haiphong (Dinh Vu Industrial Zone) |
|---|---|
| Sales Office | Hanoi, Ho Chi Minh City |
| Establishment | September, 2012 |
| Start of Operation | February, 2014 |
go on to JX Nippon Oil & Energy Vietnam website
Product Lines
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ENEOS Automotive Oils
(Motorcycle oils, Passenger Car Motor oils, Heavy Duty Diesel engine oils, Automotive Gear oils)
-
ENEOS Motorcycle Oils
(Factory fill oils and After sales oils)
-
ENEOS Industrial Oils
(Hydlaulic oils, Gear oils, Turbine oils, Compressor oils, Multi-Purpose oils, Cutting oils and so on)
03
STRATEGIC PARTNERSHIP WITH
VIETNAM NATIONAL PETROLEUM GROUP
Strategic partnership with Vietnam National Petroleum Group
ENEOS Group has entered into Strategic Cooperation Agreement with Vietnam National Petroleum Group (Petrolimex) since 2016. ENEOS Group acquired the 8% share of Petrolimex in 2016.
For further close relationship with Petrolimex, ENEOS Group increased investment ratio and ENEOS Group holds about 13% share of Petrolimex at the end of 2021.
In 2021, Petrolimex and ENEOS additionally entered into Memorandum of Understanding for promoting the programs to enhance the corporate value of Petrolimex and consider new joint projects. Through cooperation between with Petrolimex and ENEOS Vietnam Co., Ltd., ENEOS Vietnam Co., Ltd. will keep focusing on strengthening profitability of Petrolimex and developing new business in Vietnam.
04 BUSINESS DEVELOPMENT: RENEWABLE ENERGY
Business Development: Renewable Energy
While Vietnamese government declares its intention to accomplish Carbon Neutrality by 2050, the demand for electricity is increasing rapidly with its economic growth. The needs for renewable energy resources are expected to increase over the long term.
In December 2021, ENEOS Group invested in a Solar Power Plant in Hau Giang Province.
ENEOS Group will contribute to achieving Carbon Neutrality in Vietnam through developing new renewable energy resources.
