Prime Minister Pham Minh Chinh has tasked state energy firm Petrovietnam with laying underwater power transmission lines and developing offshore wind power.
Petrovietnam Drilling & Well Services Corporation has seen its share price double since last November when investment fund Dragon Capital increased its stakes in it.
Petrovietnam Drilling and Drilling Services Joint Stock Corporation (PV Drilling) has decided to establish four operating offices in ASEAN countries as part of its efforts to expand its presence in the region.
Oil and gas giant Petrovietnam has liquidity issues because it has not been able to collect payables of VND23 trillion ($971 million) from state-owned utility Vietnam Electricity.