Petro Vietnam to Tap Nearly 25Mln Tons Oil Equivalent This Year
The State oil and gas monopoly PetroVietnam plans to exploit 24.79 million tons of oil equivalent in 2006, said Investment Newspaper, the mouthpiece of the Ministry of Planning & Investment.
Of the sum, PetroVietnam will extract 18 million tons of crude oil and 6.79 billion cubic meters of gas, it said.
This year, the corporation targets to increase its reserves by 65 million tons of oil equivalent in order to fulfill the target of raising its total oil equivalent reserves to 169-190 million tons in the 2006-10 period.
To reach these goals, PetroVietnam will attract foreign investment to explore and exploit oil and gas in potential fields and offshore areas.
PetroVietnam will also accelerate its investment in oil and gas projects abroad. Up till now, the corporation has found oil in Algeria, Malaysia, Iraq, Indonesia and Mongolia.
According to PetroVietnam’s statistics, PetroVietnam discovered a total oil equivalent reserves of 263 million tons between 2001 and 2005.
Investment
Vietnamese
