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PetroVietnam achieves 67.4 pct of year’s plan

The Vietnam National Oil and Gas Group (PVN) exploited 15.64 million tonnes of oil and gas in the first eight months of the year.

Oil output reached 9.64 million tonnes, making up 64 percent of the year’s target, while gas production stands at 6 billion cubic metres, representing 73 percent of the target for 2011.

At the same time, two new oil and gas explorations were found in Gau Trang (White Bear) and Meo Trang (White Cat) wells.

Te Giac Trang (White Rhino) mine was put into operation on August 22 and aims to be producing 26,000 tonnes of oil and 1.5 million cubic metres of gas by the end of the month.

As well as production, fuel exports have also increased. Crude oil exports total US$8.1 billion so far, up 47 percent against the same period last year.

By the end of the year, PVN strives to explore Dai Hung mine in the second phase, Chim Sao mine and Dana plot SK305-Malaysia mine following the correct rate of progress.

From VietNamBusiness

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