On 4 March, Nguyen Vu Truong Son was appointed General Director of Petrovietnam and member of the corporation’s Board of Directors at a ceremony that took place at PVN’s headquarters in Hanoi.
The event was attended by Cao Quoc Hung, Deputy Minister of Industry and Trade, Nguyen Quoc Khanh, Chairman of the Board of Directors of PVN, representatives of the Communist Party of Vietnam Central Committee, various ministries and government structures.
Petrovietnam’s press service reports that the new head of the company announced the key goals concerning PVN’s development in the near future. According to Nguyen Vu Truong Son, above all, it is necessary to deal with the issues related to restructuring and managing the corporation’s enterprises, continue improving the organizational model and efficient management that should involve the most advanced international practices, and elaborate a strategy for improving human resource management.
The new General Director also noted that PVN will continue to implement the plan for investing in key projects until 2020, paying special attention to balancing money flows and mobilizing capital in order to react to oil price fluctuations in a timely manner. At the same time, he highlighted the need in maximizing savings while investing in projects and works as well as thoroughly controlling the investments in key projects.
Nguyen Vu Truong Son was born in Hanoi in 1962. He graduated from the Oil and Chemistry Institute in Baku (USSR), receiving the qualification of a process engineer in oil and gas production. He was also awarded an MSE in System Engineering by Royal Melbourne Institute of Technology (Australia).
From 1987 to 2009, he held various positions at Vietsovpetro, Vietnamese-Soviet (Russian) joint venture, starting as a shop foreman and working his way up to the post of Deputy General Director.
From 2009 to 2012, he was a member of the Board of Directors and the General Director of PVEP (PVN's key oil and gas production corporation).
From 2012 to March 2016, Nguyen Vu Truong Son served as Deputy General Director of Petrovietnam.