The signing ceremony took place on April 23, 2026 at Samsung Heavy Industries’ Geoje shipyard in South Korea.

The MoU marks a strategic step to strengthen ties between Vietnam’s national energy group and one of the world’s leading shipbuilders, Petrovietnam stated in a release.

Under the agreement, Petrovietnam and its subsidiaries are expected to gain greater access to advanced technologies, management expertise and capabilities in executing large-scale shipbuilding and offshore projects to international standards. The partnership is also aimed at supporting the recovery and development of Vietnam’s large-scale shipbuilding capacity.

Amid expectations of rising global demand for shipbuilding - particularly for energy transport vessels, specialized ships, offshore structures, and solutions supporting the global energy value chain - the cooperation with Samsung Heavy Industries is seen as opening new business opportunities for Petrovietnam and its units.

The partnership is also expected to help accelerate the development of a marine industrial ecosystem, oil and gas technical services, and supporting industries, in line with Petrovietnam’s long-term sustainable development strategy.

Petrovietnam is Vietnam’s national industry and energy group, playing a key role in the economy with responsibility for managing and implementing oil and gas activities domestically and overseas.

With more than 60 years of development, the group operates across five core segments: gas exploration and production, gas industry, oil and gas processing, power and renewable energy, and high-quality oil and gas technical services.

Samsung Heavy Industries, established in 1974, is one of the world’s largest shipbuilders and a core unit of South Korea’s Samsung Group. The company operates across multiple segments, including the construction of large LNG carriers, large passenger vessels, and the export of shipbuilding technology.

Its core activities cover engineering design, procurement, construction, commissioning and delivery of commercial vessels, offshore platforms, drilling rigs, and floating production units for the oil and gas sector, while continuing to develop advanced technologies to maintain its leadership in global shipbuilding markets.