Petro Drilling Viet Nam Essay

1729 words - 7 pages

2009

RMIT University Vietnam
DANG BICH HONG s3231326

[PV Drilling & Well Services JS Co]

I. Industry OverviewSince the "Doi Moi" period, Vietnam has open its door for adapting new business environment and foreign technology, business conducts, foreign investments, etc. The country has boosted exploration activities and has allowed more foreign company involvement in the oil industry. These efforts have resulted in rapid economic growth with GDP at 8.44% in 2007 and estimated GDP of 6.23% for 2008(www.mofa.gov.vn ) even with the global financial crisis. As the result, the country's oil industry has also gone under significant developments from 1986 when it launches the first production in Bach Ho oil field. After two decades, Vietnam held 600 million barrels of proven oil reserves as of January 2007 and mostly are located offshore according to the Oil & Gas Journal (OGJ). Moreover, EIA forecasts that the country's oil production will rise above 400,000 bbl/day in 2008(Petroleum industry). Another research done by BMI indicates that Vietnam exports account for 4.16% of the regional oil supply in Quarter 2 of 2008 and expected to increase to 4.69% by 2012.Vietnam's oil sector is dominated by the state-owned Vietnam Oil & Gas Corporation (PetroVietnam), which is under the control of the Ministry of Industry. All oil production in the country is carried out through more than 57 different types of contracts between PetroVietnam(PVN) and its foreign partners under such as Schlumberger, Haliburton, Mobil, BP, etc…( PVD Annual Report 2008)Although the country crude oil export has been increasing, Vietnam still needs to import refined oil for domestic use. Oil being a scarce resource and accounts for 50% of total energy consumption in Vietnam. As the result, Vietnam is investing in a few refineries with the one in Dung Quat which is expected to commercialize in 2009 - 2010.( Energy profile of Vietnam).II. External Analysis - PESTL:Political: Stable, good relationship with neighbor countriesEconomics: Economy still strong, global crisis affects a little, Oil price has dropped significantly, and Increase in export tax for oil from 4% to 20% will affect oil exploration, Lower GDP projection, devaluation of Vietnam Currency(Social: Lack of capable HR for drilling, large population fuel oil demand, spending power higher more employment, contribution to GDP and taxesTechnology: High technology segment & high entry barrier, high technology needed to improve efficiency, safety & environmentLegal: Environment protection law, global warming concernsIII. Industry Analysis: Porter's 5 Forces (please refer to appendix 2)This oil drilling industry is very much dominated by few major players or international firm with good financial strength as this industry requires high capital investment. Given the sensitivity as a scarce resource, it is a highly protected market in Vietnam which PVD has a favorable standing given their...

Find Another Essay On Petro Drilling Viet Nam

Hamlet as Victim and Hero Essay

1301 words - 5 pages Hamlet as Victim and Hero      Hamlet, Prince of Denmark, a Shakespearean tragedy, tells the story of Prince Hamlet, who gained the knowledge of a terrible incident that his kingdom had suffered. Claudius, the king of Denmark and Hamlet's uncle, had killed his own brother, the king, who was also the father of Hamlet, and married his brother's widow. Hamlet suffered these traumas to a severe degree, and his only relief was to defeat his

Essay on Light and Dark in Antigone

1188 words - 5 pages Use of Light and Dark in Antigone   The "Golden Age" of Greece is noted for its many contributions to the creative world, especially in its development of the play. These performances strived to emphasize Greek morals, and were produced principally for this purpose. Antigone, by Sophocles, is typical. The moral focused on in Antigone is the conflict between physis (nature) and nomos (law), with physis ultimately presiding over nomos

charant Creon as the Main Character of Antigone

1231 words - 5 pages Creon as the Main Character of Antigone   Throughout the Greek play Antigone by Sophocles, there exists a dispute as to who should receive the designation of main character. Antigone, the daughter of the cursed King Oedipus, as well as Creon, stately king of Thebes, both appear as the key figures in this historic play. I believe that Creon, king of Thebes, should be considered the main character in this work of Greek theater. Three

Free Macbeth Essays: Sleep and Sleeplessness

525 words - 2 pages The Sleep and Sleeplessness Motif in Macbeth We have consciences that function to tell us the difference between right and wrong. If we have clear consciences, we usually possess the ability to sleep. But when our consciences are full of guilt, we experience a state of sleeplessness. In Macbeth, Shakespeare uses the sleep and sleeplessness motif to represent Macbeth's and Lady Macbeth's consciences and the effect Macbeth's conscience has on

Life Outside of Life in Hawthorne’s Wakefield

898 words - 4 pages Life Outside of Life in Hawthorne’s Wakefield   Efficacy lies at the heart of human desires for immortality. Characters throughout literature and art are depicted as wanting to step aside and see what their world would be like without their individual contributions. The literary classic A Christmas Carol and the more recent, but ageless, film It’s Wonderful Life both use outside influences (three ghosts and Clarence the Angel

Essay on Identity in Song of Solomon

2172 words - 9 pages Searching for Identity in Song of Solomon         Abstract: Whether Africans really fly or just escape a monumental burden, perhaps only through death, is a decision Toni Morrison has apparently left to her readers. Never the less, no matter what you believe, within Song of Solomon, the suggestion is, that in order to "fly" you must go back to the beginning, back to your roots. You must learn the "art" from the old messages.   O

The Character of Oedipus in Oedipus and The Infernal Machine

904 words - 4 pages The Character of Oedipus in Oedipus and The Infernal Machine    The stories of Oedipus, as told through Seneca's Oedipus and Cocteau's The Infernal Machine, contain both similarites and differences. Both authors portray the character of Oedipus as being obstinate, ignorant, and inquisitive. Yet Seneca and Cocteau differ on their interpretation of the motives that propelled these characteristics of Oedipus. Seneca portrays Oedipus as a

Okonkwo's Tragic Flaws in Chinua Achebe's Things Fall Apart

3121 words - 12 pages        An increasing amount of contemporary literature traces its origins back to the early works of Greece. For ages, humans have fascinated themselves with the impossible notion of perfection. Unrealistic expectations placed on those who were thought to be the noblest or most honorable individuals have repeatedly led to disappointment and frustration, either on the part of those particular individuals or those they influence. Classic

Sophocles' Antigone - Antigone Must Challenge Creon

889 words - 4 pages Antigone Must Challenge Creon in Antigone   In his "Funeral Oration" Pericles, Athens's leader in their war with other city-states, rallies the patriotism of his people by reminding them of the things they value. He encourages a sense of duty to Athens even to the point of self-sacrifice. He glorifies the free and democratic Athenian way of life and extravagantly praises those willing to die for it. In Antigone, Creon, Thebes's leader in

The Role of Women in Homer’s Iliad

796 words - 3 pages The Role of Women in Homer’s Iliad Homer’s Iliad is undoubtedly focused on its male characters: Achilles, primarily, but also Hector and Agamemnon. Nevertheless, it seems that the most crucial characters in the epic are female. Homer uses the characters of Thetis, Andromache, and Helen as a basis for comparison to the male characters. Homer wants his audience to see and understand the folly of his male characters in choosing war over peace

A Comparison of Butler's Life and Kindred

1915 words - 8 pages A Comparison of Butler's Life and Kindred   What lies in the mind of an author as he or she begins the long task of writing a fiction novel? This question can be answered if the author's life is studied and then compared to the work itself. Octavia E. Butler's life and her novel Kindred have remarkable comparisons. This essay will point out important events of Butler's life and how they link to the mentioned novel. Octavia Estelle

Similar Essays

Focus On The Learners Essay

1659 words - 7 pages month. Lana (buy) ____________ some new pencils yesterday. Lana (buy) ____________ many things for class since class started. 3. Lana (think) ____________ about Viet Nam every day. Lana (think) ____________ about Viet Nam yesterday. Lana (think) ____________ about Viet Nam every day since she left. 4. Molly (bring) ____________ her lunch to work ever day. Molly (bring) ____________ her lunch to work yesterday. Molly (bring) ____________ her lunch

2004 Election Essay

1263 words - 5 pages The interest of a nation should always be towards the majority of the population, who are generally poor. A Viet Nam war veteran fits into the majority in the US in 2004, a group who has more needs than the minority rich, therefore requiring a liberalistic government. The Federal government should be taking a strong part in regulating of business and keeping laws on citizens need a standardized throughout the country. The US's recession needs to

Reality And Illusion In Shakespeare's Hamlet Reality, Appearance And Deception

896 words - 4 pages Reality and Illusion in Hamlet   Shakespeare’s play, Hamlet, begins with the appearance of a ghost, an apparition, possibly a hallucination. Thus, from the beginning, Shakespeare presents the air of uncertainty, of the unnatural, which drives the action of the play and develops in the protagonist as a struggle to clarify what only seems to be absolute and what is actually reality. Hamlet's mind, therefore, becomes the central force of the

Sub Plots In Hamlet Essay

1118 words - 4 pages Sub-plots in Hamlet   There are many things that critics say make Hamlet a "Great Work," one of which is the way that Shakespeare masterfully incorporates so many sub-plots into the story, and ties them all into the main plot of Hamlet’s revenge of his father’s murder. By the end of Act I, not only is the main plot identified, but many other sub-plots are introduced. Among the sub-plots are trust in the Ghost of King Hamlet, Fortinbras, and