Vietnam’s state-run oil and gas monopoly PetroVietnam reports that it has produced 126.81 million barrels of crude oil and condensate in 2006, or 347,420 barrels per day (bpd), down about 3.9 per cent year, the government’s General Statistics Office (GSO) said.
An anonymous PetroVietnam source said the output decrease resulted from shrinking production in several key fields, including Bach Ho and Su Tu Den.
Also in 2006, PetroVietnam brought ashore seven billion cubic meters of gas.
PetroVietnam recorded total revenues of VND147,852 billion (US$9.2 billion) in 2006, said the official. The group paid VND68,527 billion (US$4.28 billion) to the state coffers in the year.
PetroVietnam hopes to raise its production as several fields go on stream soon, he added.
From April 2006, PetroVietnam began tapping its first oil stakes overseas, bringing home 30,000 tons of crude oil from Sendor well, block PM-304, Malaysia.
Currently, the group has seven oil and gas exploration and exploitation projects overseas, including one in operation and four under exploration.
Without an operational refining facility, Vietnam, the sixth largest crude producer in Asia, exports most of its crude oil, totally relying on refined oil imports.
According to the General Statistics Office (GSO), Vietnam’s crude oil export volume in 2006 is estimated at 121.81 million barrels, or 333,725 barrels per day, down 7.5 per cent against last year.
At the same time, the communist-ruled country spent US$5.85 billion to import 11 million metric tons of petroleum products in the year, up 16.4 per cent in value but down 3.8 per cent in value.
Labour, GSO
Vietnamese
