The Financial Times says that Viet Nam is already an increasingly significant oil producer within Asia.
According to the newspaper, Viet Nam is in the midst of a great energy rush, as leading international energy companies flock to the country to prospect for and develop oil and natural gas off its long coastline.
“Along with its surging sales of shoes, garments, furniture, seafood, rice and other labour-intensive products to overseas markets, Vietnam in 2005 had net exports of 110,000 barrels per day of crude oil, mostly selling it to refiners in Japan, the Republic of Korea, and Singapore,” the newspaper wrote.
It said that prospects for the significant expansion of Viet Nam 's domestic energy production look promising, as big oil companies plan to bring new fields into production to meet both the country's own rapidly growing domestic demand for energy and further exploration.
The newspaper, however, warned that Viet Nam ’s oil industry “is facing a bottleneck on its potentially rapid growth,” namely a scarcity of qualified, experienced personnel to staff the rising number of new rigs.
Source: VNA
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