Petrotimes - On the morning of February 02, State President Truong Tan Sang paid visit and gave New Year’s greetings to all staff, workers and employees of the Vietnam Oil and Gas Group (PVN)

Over the last years, the Party and State leaders have been interested in the development of PVN. Over two consecutive years, President has visited and given New Year’s greetings as well as come to motivate the oil and gas industry staff. Particularly in 2012, President Truong Tan Sang has attended many big events of the industry such as visit to the autonomous region of Nhenhetsky, attendance at the ceremony to receive the first industrial oil flow at the Western Khosedai oil field developed by the joint venture Rusvietpetro and other activities as part of his visit to Russia in July 2012. President has also witnessed many oil and gas cooperation activities between PVN and its partners: Uzbekistan, Brunei, Myanmar…

On the occasion of Lunar New Year of Snake, President Sang visited and gave New Year’s greetings to PVN. Attending the ceremony were leaders of the office of the President, the Minister of Industry and Trade Mr. Vu Huy Hoang and representatives from some Central Departments.

From PVN were Chairman of the Board of Directors (BOD) Mr. Phung Dinh Thuc, Mr. Do Van Hau – General Manager, members of the BOD, the Board of Management, divisions, representatives from the group’s subsidiaries and over 700 staff representing more than 50 thousand employees in the oil and gas industry who were attending at 7 video conferencing locations: Hanoi, Ho Chi Minh City, Vung Tau, Ca Mau, Quang Ngai, Ha Tinh and Soc Trang.

In the spring’s joyful ambiance, Chairman Thuc reported the major issues in PVN’s activities over the last few years. Since PVN changed its operation model into corporate group, PVN had always achieved high business results, made up about 25% GDP of the country and during this period hit a 3.1 times higher growth rate compared to the operation at the point of 5 years ago. Actually, PVN has equity of over 300 trillion dongs and total assets of over 700 trillion dongs. In conclusion, PVN has well conserved and developed its capital.

All subsidiaries’ total revenue in 2012 hit 772.7 trillion dongs, in the State budget were paid 186.3 trillion dongs meaning an excess of 51.48 trillion dongs. PVN also expanded the cooperation with its partners in over the continents. Chairman Thuc also highlighted the fact that overseas oil production of PVN had reached 1.1 million tons last year with profit of 160 million dollars. It is expected that in 2013, revenue from overseas oil production of PVN would reach 800 million dollars.

He also joyfully notified President Truong Tan Sang of the fact that PVN had finished 3 national key projects including Dung Quat Oil Refinery, Ca Mau gas - power - fertilizer complex and Nhon Trach 1 and 2 thermal power plants. Actually, revenue from oil and gas services of PVN makes up 30% of revenue of the entire group.

Besides, he reported as well other activities such as the fact that PVN had perfected and strengthened its political system, extensively and deeply implemented the "Study and follow Ho Chi Minh"s moral example" campaign. The group had also accomplished its targets on social security, welfare for the poor and actively joined in the protection of national sovereignty over islands and sea. And the last issue was that PVN had overcome its shortcomings and weaknesses stated in Decision No 41 of the Ministry of Politics.

At last, Mr. Phung Dinh Thuc expressed his deep thanks to the Party, State, Government leaders, President Truong Tan Sang personally for their care, close and timely direction allowing PVN to complete the assigned missions.

General Manager Do Van Hau presented an overview on the business operation situation of the last year 2012. Right at the beginning of the year, PVN has set up an action plan and resolutions to achieve the year plan’s targets. The group has increased reserve of gas and oil to reach 48 million tons equivalent; signed 5 new oil and gas contracts (4 domestic and 1 oversea); put 7 oil fields/projects into operation (including 4 domestic and 3 oversea).

Total petroleum production of the group was 26 million tons in 2012; production and supply of electricity for the national grid was 15.10 billion kWh; urea output delivered by the entire group was 1,422 thousand tons in which: 850 thousand tons produced by Phu My Fertilizer plant, 572 thousand tons by Ca Mau Fertilizer plant… In social security activities, the group kept on implementing as committed with the total amount of 601 billion dongs in 2012, equaling to 101% of the whole year’s committed plan. The group has successfully implemented cost reduction and lower product price to reach 5,104 billion dongs equaling to 137.4% compared to 3,715 billion dongs of the whole year’s commitment.

Mr. Do Van Hau notified President with joy that in 2012, PVN has finished ahead of schedule many targets and hit two revenue and state budget payment records. “During the last year, PVN has always been received a close direction of the Party, State, Government, various ministries and departments to make sure that oil and gas projects were always in non-stop operation, domestic as well as oversea, on land and offshore which contributed to the achievements above mentioned of PVN” – emphasized Hau.

He also notified President Truong Tan Sang of the PVN’s year plan for 2013 such as increase of production output to about 35 – 40 million tons. The group would exploit about 16 million tons of oil, 9.2 billion m3 of gas, as well as put into commercial operation Hua Na hydropower plant, Vung Ang 1 thermal power plant. In 2013, PVN would strive to exceed 646.5 trillion dongs revenue, pay the state budget 148.5 trillion dongs.

PVN is the first group of which the restructuring project was approved by the Government. In 2013, PVN will start implementing this approved restructuring project. General Manager Do Van Hau said that the group would strive to finish all the 2013’s targets 1 to 3 months ahead of schedule.

He also reiterated the President’s question from the last year’s greetings: “In how many years PVN will be equal to the Petronas group of Malaysia ?”. Hau joyfully notified President that for the moment, PVN was the third oil and gas group in Southeast Asia. For a quick development it would need huge resources. In addition, PVN would expect the Party and State to concern more and give more closely direction for the development by leaps and bound of PVN.

In the warm ambiance, President Truong Tan Sang wished all staff, workers and employees of oil and gas industry a Happy New Year, that PVN would have more and more achievements.

President expressed his joy seeing that PVN had effectively maintained, conserved and used State capital. He affirmed: “The Party and State acknowledge the great and important contribution of PVN in the economic growth and development as well as the insurance of national energy security”.

President also told again the story of Uncle Ho when he visited Baku and made a wish that Vietnam would later have a complete oil and gas industry. “We have been making his wishes come true” – emphasized President.

On this occasion, President also wished PVN to achieve “the 7 best things” as follow:

1. The best managed company

2. The fastest growth rate

3. The highest economic efficiency

4. Being the strongest economic pillars

5. Providing the best working life for oil and gas employees

6. The best internal unity

7. Equal to other groups in Southeast Asia in the period 2011 - 2020

On behalf of all the oil and gas employees, Mr. Phung Dinh Thuc sent his thanks to President Truong Tan Sang for his care and direction over the recent years. Thuc promised to well realize the 7 wishes of President and considered them as President’s direction for the group’s operation. PVN would expect more and more direction of the Party, State and Government to successfully complete the 2013’s business targets.

At the New Year greetings ceremony, President Truong Tan Sang awarded PVN a picture of Uncle Ho. PVN granted back President the collection of History books of the Vietnamese Oil and Gas industry.

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