PetroVietnam Strives To Become Strong Economic Group in Region By 2015
The state-owned oil monopoly PetroVietnam group has targeted to develop into a strong economic group in the Asean region by 2015, PetroVietnam leaders said May 30 during a working meeting with a politburo member Truong Tan Sang.
PetroVietnam has set a target of finding new oilfields to ensure a potential reserve of between 35 million and 40 million tons of crude oil equivalents by 2015
During the period, it plans to tap 25 million to 35 million tons of oil equivalent a year, of which 18 million to 20 million tons will be crude oil. It also aims to exploit between 6 billion and 17 billion cubic meters of gas per year.
The company is committed to supplying 10 per cent-15 per cent of the country’s electricity output.
This year, PetroVietnam has targeted to produce 24 million tons of oil equivalents from 16 million tons of crude oil and condensate and 8 billion cubic meters of natural gas during this year.
In early this year, the group announced that Vietnam would decrease crude oil export by three million tons to 11.68 million tons this year. (Vietnam & World Economy)
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