Vietnam's national oil and gas group PetroVietnam has announced the launch of a new subsidiary company aimed at training thousands of workers for the country's first oil refinery.

At present, the Southeast Asian state boasts just one oil refinery, the Dung Quat plant located in the Binh Son District, though an additional two are planned for the Thanh Hoa and Ba Ria-Vung Tau Provinces over the coming years.

Speaking at the inauguration ceremony for the new enterprise, the Binh Son Refining and Petro-Chemical Co, Vietnam's deputy prime minister Hoang Trung Hai confirmed that it will work in all areas of the oil refining process, including trade, transportation, storage and research.

Furthermore, with a charter capital of around $1.9 million, Binh Son will also provide education and training for hundreds of local workers to support the industry's expansion plans.

It is expected that the Dung Quat oil refinery will be capable of producing 6.5 million tonnes of oil per year, supported by an investment capital in excess of $2.5 billion, the deputy prime minister confirmed.