PetroVietnam targets 16 million tonnes of crude oil

25/01/2008 -- 9:23 PM

Ha Noi (VNA) – The Viet Nam Oil and Gas Group (PetroVietnam) target to tap 16 million tonnes of crude oil and 7.5 billion cu.m of gas this year. The figures were released at a press briefing held by PetroVietnam in Ha Noi on January 25. The group also set a target of attaining a 15 percent growth against last year. To reach these goals, PetroVietnam will try to sign 5-10 new contracts with domestic partners, buy two oil and gas fields abroad and increase its oil reserves to 35 million tonnes. It will put four more oil fields into exploitation, safely run the Ca Mau 1 and 2 and Nhon Trach 1 Electricity Plants to turn out an annual output of over 7,800 million kWh and produce 740,000 tonnes of fertiliser. After one year of operating under the group model, PetroVietnam reached a record revenue of over 200 trillion VND (12.5 billion USD) in 2007, accounting for 19 percent of the country’s GDP.-Enditem
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