PetroVietnam Finds Oil in Two Oilfields
State-owned oil monopoly PetroVietnam has announced that it has found oil at two new oilfields of Ho Xam Nam and Hai Su Bac, the Youth newspaper reported, citing the group sources.
PetroVietnam, however, did not specify estimated oil reserves and locations of the fields.
The group is carrying out oil exploration in a number of foreign countries such as Myanmar, Cambodia, Egypt, Tunisia, India, Angola, and Cameroon.
PetroVietnam has clinched deals for 16 oil production abroad while boosting cooperation programs with many other overseas partners to ink agreements for coal gas production in the Red River Delta region.
It has set target to produce between 15.5 million and 16 million tons of crude oil this year.
PetroVietnam has aimed to attain record revenues of VND300 trillion (US$18.29 billion) in 2008, up 40.58 per cent on year. (Youth)
Vietnamese
