PetroVietnam to buy two oil wells overseas

22/01/2008 -- 4:50 PM

Ha Noi (VNA) – The National Oil and Gas Corporation (PetroVietnam) has taken bidding procedures to buy an oil well in Azerbaijan and if winning the contract, it will start tapping oil this year, PetroVietnam General Director Tran Ngoc Canh has announced. At a press briefing on Jan. 21, Canh added that his corporation is negotiating with Kazakh, Venezuelan and Irani partners on purchase of the second oil well overseas with the aim of achieving an output of 16 million tonnes of crude oil this year. Exploration is one of PetroVietnam’s top priorities in 2008 with its special focus being paid to seeking new investment opportunities in overseas oil and gas projects, he said. PetroVietnam has so far signed 13 overseas exploration and exploitation projects and is targeting to set up a joint venture company in Iran , he added. PetroVietnam pumped almost 22.7 million tonnes of oil in 2007, 100,000 tonnes of which were tapped in foreign countries. It also exported more than 15.7 million tonnes of oil for 8.8 billion USD.-Enditem
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