On February 20, 2025, at PV GAS headquarters in Ho Chi Minh City, Petrovietnam Steel Pipe Joint Stock Company (PV PIPE) officially signed a Comprehensive Cooperation Agreement (MOA) with NEXTEEL Co., Ltd, one of the leading steel pipe manufacturers in Korea. This event not only marks an important step forward in the two companies' market expansion strategy but also affirms their commitment to enhancing product value in the oil and gas industry.
The ceremony was attended by senior leaders from Vietnam Gas Corporation (PV GAS), including Mr. Nguyen Thanh Binh, Secretary of the Party Committee and Chairman of the Board of Directors, along with Mr. Pham Van Phong, General Director, and Mr. Huynh Quang Hai, Deputy General Director. On PV PIPE's side, Mr. Nguyen Cong Luan, Deputy General Director, Chairman of the Board of Directors, and Mr. Le Hong Hai, Director, represented the unit. NEXTEEL also sent leadership representatives to attend, including Mr. Hyo Jeong, Park, Chairman of the Board of Directors.
PV PIPE, with 15 years of experience in the field of oil and gas steel pipe production, has affirmed its leading position in Vietnam. The company's factory in Soai Rap oil and gas service industrial park has a capacity of 100,000 tons/year, products meet international quality standards such as API and ISO. NEXTEEL, with 35 years of operation and a global distribution network, is capable of producing up to 1,340,000 tons of steel pipes per year, mainly supplying major markets such as the United States, Canada and the Middle East.
This strategic cooperation agreement will last until 2030, with the goal of steel pipe production from PV PIPE supplied to NEXTEEL reaching 10,000 tons by 2025, doubling by 2025. 2026, and up to 40,000 tons/year from 2027 to 2030. This not only helps optimize benefits for both parties but also ensures sustainable workload and profits.
Mr. Pham Van Phong emphasized that this cooperation is not only an important milestone in the development of the two businesses but also demonstrates the spirit of sustainable cooperation. He believes that with NEXTEEL's large distribution system and PV PIPE's modern production line, this cooperation will open up many great opportunities in the international market.
Both Mr. Hyo Jeong, Park and Mr. Le Hong Hai expressed confidence in the future of effective cooperation between the two sides, emphasizing that this is an opportunity to maximize each other's strengths, expand the market and raise the "Made in Vietnam" brand on the global oil and gas steel pipe industry map.
With the witness of the leaders of the parties, the signing ceremony took place successfully, marking the beginning of a new journey of cooperation, not only increase international competitiveness but also comply with the market development strategy that PV GAS has set out for 2025.