Establishment history of the Company

Establishment history of the Company As detailed in the concluded notice No. 04/TB-VPCP on January 13th, 2004 on detailed planning of port group No. 5, Deputy Prime Minister Nguyễn Tấn Dũng (now Prime Minister) was very interested in "Research for the construction of a completed and modern oil and gas services base to serve effectively for the exploration and exploitation of petroleum in the waters of the South" and "viewpoint of the port development overlooking to the sea to mainstream goal to build large ports, gateway ports, modern deep-water ports as motivation to develop the key economic area, and meet the competitiveness of the sea ports in the region during the period of international integration.

Implementing guidelines of the Government, the two concerned Corporations are Vietnam Petroleum Corporation PETROVIETNAM (now Vietnam Oil and Gas Group) and Vietnam National Shipping Lines (VINALINES), with the support of the Provincial People's Committee of Bà Rịa - Vũng Tàu Province identified Sao Mai – Bến Đình areas is the only appropriate placement remaining to satisfy the need to build a service port combination of oil and gas.

The parties agreed to propose and approved by Prime Minister in principle in Document No. 5228/VPCP-CN on September 19th, 2006 to establish a joint stock company. On that basis, in April 2007, Sao Mai - Ben Dinh Petroleum Investment Joint Stock Company established by Resolution No. 1847/NQ-DKVN on 06/4/2007 by Management Board of Vietnam Oil and Gas Group approving the scheme established, the organization and operation charter of the Company and Resolution No. 01/NQ-ĐHĐCĐ on April 24th, 2007 of the Shareholders General Assembly on the establishment of the company PVSB.

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