Vietnam Appraises Oil & Gas Service Development Plan by 2015

Deputy Minister of Industry and Trade Do Huu Hao May 27 chaired over a meeting with the state-run oil monopoly PetroVietnam group and some the group’s affiliates to appraise the national oil and gas service development plan by 2015 with vision to 2025, the ministry said on its website.

 

The plan built by the Center for Technology Application and Transfer under the Vietnam Petroleum Institute focuses on oil and gas services including technique; transport, insurance, finance and trade services; and services for operating, maintaining and repairing oil and gas works; for consulting technology science investment; and for training human resources.

 

Under the plan approved in March 2006 by the prime minister, the country will develop oil and gas services in a bid to raise contribution proportion of oil and gas services on gross revenues of the sector to 20 per cent-25 per cent by 2010 and 25 per cent-30 per cent by 2015.

 

This year, PetroVietnam has targeted revenues of VND261.11 trillion (US$15.82 billion) and contribute VND79.58 trillion (US$4.82 billion) to the state budget. (ww.moit.gov.vn)