The ceremony was attended by Mr. Bui Ngoc Duong, Chairman of BSR's Board of Directors; Mr. Nguyen Viet Thang, BSR's General Director; along with other members of the Board of Directors, the Executive Board, the Supervisory Board, the Refinery Management Board, leaders of functional departments, and project team members.

From the Vietnam Petroleum Technical Services Corporation (PTSC), the ceremony was attended by Mr. Tran Ho Bac, General Director, along with members of the Executive Board and leaders of PTSC Quang Ngai.

Representing the Petroleum Maintenance and Repair Corporation (PVMR), Mr. Nguyen Trung Tri, Chairman of the Board, attended along with company leaders, experts, engineers, and workers involved in the project.

Dung Quat Refinery currently has eight crude oil storage tanks, each with a capacity of 65,000 m³. The "Crude Oil Storage Tank Expansion Project" aims to optimize BSR's feedstock supply, mitigate risks, enhance crude oil import flexibility, diversify crude oil sources, reduce vessel demurrage costs, and bolster strategic storage capacity.

The EPC package, executed by a contractor consortium consisting of PTSC, PTSC Quang Ngai, and BCA Thang Long, valued at VND 531.75 billion (approximately USD 21.5 million), will add one 65,000 m³ crude oil storage tank to the existing facility. The project will be constructed on a 3.126-hectare site and is expected to be completed within 26 months.

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Speaking at the groundbreaking ceremony, Mr. Nguyen Viet Thang, BSR's General Director, emphasized the project's importance in driving the company's future growth. "This project is part of our strategic investment plan to create new momentum for BSR's growth, contributing to a double-digit increase in the coming years. It will significantly enhance our operational capabilities and flexibility in production and business activities. By launching this project at the beginning of the new working year, BSR demonstrates its strong commitment to fulfilling its 2025 business objectives. Furthermore, this project lays a critical foundation for future investments and aligns with the Government’s policy to enhance crude oil strategic reserves and ensure national energy security," he stated.

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The General Director of BSR also urged the EPC contractor consortium to strictly adhere to all regulations on security, safety, fire prevention, and environmental protection. He emphasized compliance with technical standards and quality assurance to ensure the project’s safe, high-quality, and timely execution.

Mr. Tran Ho Bac, PTSC's General Director, expressed confidence in the contractor consortium's ability to deliver the project successfully. "With our extensive experience in implementing large-scale projects both domestically and internationally, coupled with our determination and proactive approach, we are fully confident in achieving the project's objectives," he affirmed.

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Duc Chinh - Thanh Hieu