PetroVietnam Inks Six Oil, Gas Deals in Jan-Arp

The state-run oil monopoly PetroVietnam group has clinched a total six oil and gas exploration and exploitation contracts in the first four months this year.

 

Of the deals, four allows the group to explore and exploit oil and gas in Vietnam and two in foreign countries.

 

In the January-April, PetroVietnam produced 2.72 billion cubic meters of natural gas, up 5.4 per cent on year.

 

In order to ensure targeted natural gas volume this year of 7.5 billion cubic meters of dry natural gas, PetroVietnam must immediately deploy newly-signed contracts and connect Su Tu Vang-Rang Dong gas transportation section as soon as possible to start operation in the second quarter this year, the Ministry of Industry and Trade said.

 

PetroVietnam has so far poured more than US$226 million into 21 projects overseas, with nearly 90 per cent of the investment going to development and exploitation and the rest to exploration, mainly in Myanmar, Cambodia, Egypt, Tunisia, India, Angola, and Cameroon. (New Hanoi)