Our history
PETRONAS was incorporated on 17 August 1974 as the national oil company of Malaysia, vested with the entire ownership and control of the petroleum resources in the country. It has since grown from merely being the manager and regulator of Malaysia’s upstream sector into a fully integrated oil and gas corporation, ranked among the FORTUNE Global 500® largest corporations in the world.
The PETRONAS’ transformation journey from a domestic-based national oil company into a fully integrated oil and gas multinational corporation has begun in the early 1990s with the first operation in Vietnam.
PC Vietnam Limited is a subsidiary of PETRONAS. It has been given the responsibility to operate its exploration and production (E&P) activities in Vietnam when it was awarded a Production Sharing Contract (PSC) for Blocks 01&02 in Cuu Long Basin on 9 September 1991. The current business activities range from exploration, development to production and are managed by a multi-cultural team of over 200 staff.
In strong and long partnership with Vietnam National Oil & Gas Group (PetroVietnam), PC Vietnam Limited is a significant upstream investor and a preferred partner of E&P projects in Vietnam such as Blocks 01&02, Blocks102&106, Blocks 10&11-1 (Con Son JOC), Blocks 01/97&02/97 (Lam Son JOC), Blocks 103&107 (PVEP POC), Block 46/02 (Truong Son JOC) and Block 46 Cai Nuoc (Talisman).
Moreover, PETRONAS’ business portfolio in Vietnam is also expanding to downstream investments such as PETRONAS (Vietnam) Company Limited (PVL) which is speciallized in Gas, Phu My Plastics & Chemicals Company Limited (PMPC) and PETRONAS Chemical Marketing (PCM).
After 20 years of presence in Vietnam, the journey of PETRONAS is still going while the corporation is really growing with this nation for so long. It was not only success to achieve but also challenges to overcome. However, with the Corporate Brand Essence “Energy Receive, Energy Return, Aspiring People Everywhere", PETRONAS will keep its contribution to Vietnam now and future.
