Shell Co is seeking opportunities to invest in oil field in Vietnam, according to Tim Ford, Shell firm’s vice chair in Asia-Pacific area.
Shell forecasted Vietnam’s annual oil growth would be 7-8 percent, higher than average growth of 4-6 percent in Asian markets.
Ford also forecasted that Shell’s oil market share in Vietnam will range 8-10 percent and the company is mapping out plan to increase market share to 13 percent like Shell has gained in the world market.
Ford said that 2009 was a rough year for companies due to heavy impacts from the world economic recession. But, Shell oil firm still posted growth of 5-10 percent. He expected that in coming years, Shell oil firm will maintain a two-digit growth in Vietnam market.
Currently, Shell is operating in Vietnam under three legal statuses including Shell Vietnam Ltd Co, Shell Gas (LPG) Vietnam Co and Shell Gas Hai Phong Joint Venture Co. Shell’s business fields in Vietnam include oil, asphalt, chemicals and liquefied petroleum gas (LPG).