The Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro) has recently marked its 28th anniversary, which was an important foothold for the joint venture as well as the oil and gas sector of Vietnam. Being bestowed with the Ho Chi Minh Labour Medal is a noble reward for uninterrupted efforts, creativeness and high responsibility by its Vietnamese and Russian staff and workers.
Vietsovpetro has experienced many challenges to become a large enterprise with great contributions to the national economy since it first operation on June 19, 1981.
The joint venture has raised its crude oil output to 180 million tonnes as of June 26 this year, an increase from 100 million tonnes in late 2001, 20 million tonnes in October 1997 and one million tonnes in December 1988. Such a huge volume of crude oil is of great significance to national economic development.
In addition, Vietsovpetro has brought ashore 20 billion cubic meters of associate natural gas. The joint venture has also built an ashore general service station that has paved the way for oil and gas service development, opened a new chapter for its development strategy, provided support to units inside and outside the sector as well as made great contributions to the national security via building offshore oil rigs.
Vietsovpetro’s oil and gas exploration and production at the foundation of Bach Ho oilfield has mapped out an important direction for oil and gas probe in the region with great efficiency. Over the past 28 years, Vietsovpetro has been a venue for training Vietnamese oil and gas officials, has become a leading oil and gas company in Vietnam and been recognized as the best operator among Vietnam-Russia joint ventures.
To honour Vietsovpetro for its contributions, the Party and the State of Vietnam have bestowed it as well as its officials with many noble titles including two Labour Hero Titles and the Ho Chi Minh Labour Medal for the joint venture, and Labour Hero Tiles to three general directors.
This year, Vietsovpetro is targeting to produce 6.4 million tonnes of crude oil. The joint venture is speeding up key projects of collecting natural gas from the Nam Rong-Doi Moi oilfield. The joint venture is also boosting up collaboration with PetroVietnam Construction Joint Stock Company, PetroVietnam Technical Services Joint Stock Company and other contractors to complete a project to build the Block B-O Mon gas pipeline in 2011.
Vietsovpetro leaders said the joint venture will complete preparations to become a two-member limited company after 2010 with a slogan of “Transforming but maintaining high-quality workforce, continuing to develop sustainably and deserving to be the pioneer of Vietnam’s oil and gas sector.”
Thu Huyen
Vietnamese
