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PVN basically completes the 2012’s plan

13/12/2012

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Petrotimes – At the regular press conference in November 2012, the Ministry of Industry and Trade said that the Vietnam Oil and Gas Group (PetroVietnam) has basically completed the 2012’s plan.
Total petroleum production estimated to reach 2.3 million tons in November and 23.75 million tons for 11 months, increasing 10.1% compared to the same period.
In particular, oil production estimated to reach 1.43 million tons in November and 15.28 million tons for 11 months, increasing 11% compared to the same period; natural gas production estimated to reach 0.9 billion cubic meters in November and 8.5 billion cubic meters for 11 months, increasing 9.1% compared to the same period.
Oil exploration and development has achieved the year’s plan targets. The total volume of seismic explosion data collected (14/14 projects) reached 9,970 square kilometers for 3D and 10,469 kilometers for 2D seismic data.
Oil reserves rose to 35 million tons, achieving the year’s plan. All 6 oil fields/projects were completed and put into operation including: Su Tu Trang (White Lion) oilfield, oil platform H4 of Te Giac Trang (White Rhinoceros), Gau Trang (White Bear), Lan Do (Red Orchid), West-Khosedayuskoye in the region of Nenetsky – Russia.
Investment promotion was actively implemented. Within 11 months, PVN has signed 4 new oil contracts (3 contracts in the country and 1 contract abroad).
Exploitation activity is stable and safe at the new fields/projects put into operation in 2013 and exploited fields in both the country and abroad.
Oil processing at Dung Quat refinery is stable with a production estimated to be 440 thousand tons and 4.64 million tons for 11 months, equaling to 99.1% compared to the same period. Consumption of oil products from the beginning of the year until November 23 reached 4.43 million tons.
According to the Ministry of Industry and Trade, to ensure completion of the year’s plan, the oil industry should continue to strictly control oil and gas activities in the East Sea and development progress of the fields. In addition, continue to closely monitor exploration and verification activities of wells, safely operate Dung Quat oil refinery and the gas pipeline system.

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