Support services for crude oil and natural gas exploitation in Vietnam increased by 14 percent in December compared to November, according to Vietnam’s Industrial Production Index.
Year-on-year, the sector recorded a significant growth of 25.5 percent in December compared to December 2023. For the full year of 2024, cumulative growth stood at 10.0 percent compared to 2023, highlighting the steady expansion of these essential services.
The sharp increase in December reflects intensified activities in oil and gas exploration and production during the month. The year-on-year and year-to-date growth figures demonstrate the sector’s importance in supporting Vietnam’s energy industry, particularly amid fluctuating crude oil and gas outputs.
Support services play a critical role in Vietnam’s oil and gas sector, providing logistics, maintenance, and technical expertise. These services ensure the efficiency and reliability of upstream operations, which are vital for meeting domestic energy demands and export commitments.
The strong performance in 2024 underscores the resilience of this sector despite broader challenges in the global energy market.
See also: Crude Oil Industry in Vietnam