Last year marks an important milestone for PetroVietnam (PVN). Despite many difficulties, the Group successfully completed production and business targets and set many new records in exploitation, contribution to State budget…

Exploitation at Song Doc oil field. Photo: Duy Anh



In 2013, PVN successfully and comprehensively fulfilled all assigned tasks ahead of schedule. Especially, the Group’s contribution to State budget exceeded 46.8 trillion dongs (equivalent to USD 2.22 billion) compared to the plan. Almost the units under the Group completed comprehensively and overfulfilled the set targets of the year, typically Vietsovpetro, PetroVietnam Exploration Production Corporation (PVEP), PetroVietnam Power Corporation (PV Power), PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo), Binh Son Refining and Petrochemical Co., Ltd. (BSR)... These important targets were achieved thanks to the close direction of the Government, the supports from functional branches, the determination, creativeness and activeness of all leaders and employees of the Group in coping with unpredictable fluctuation of the market. Accordingly, all the gas pipelines were ensured in safe operation, the works of scheduled and irregular maintenance and repair, test and calibration were conducted as scheduled, in consistent with proper procedures and assured operation stability of the system. The orientation of oil and gas services were also determined clearly. Almost the units dealing in oil and gas services fulfilled and overfulfilled the assigned targets. The power, fertilizer and refining plants of the Group operated at highest safety. The regular works of maintenance and repair for the plants were performed exactly according to requirements from manufacturers and on schedule. The transition and restructuring of enterprises were deployed exactly according to the contents approved by the Prime Minister. The Group has approved for the restructuring plan for the 2012-2015 period and are directing its units to carry out the plan on schedule. In addition, the technology, science and training activities were applied actively, the works of oil and gas safety and security, labour safety, environmental friendliness…on the sites were closely supervised and implemented seriously.

A representative of Vietsovpetro revealed that, last year Vietsovpetro reached the revenue of USD 4.75 billion, exceeding USD 1.05 billion. This achievement resulted from the solutions such as persistent exploration, application of science and technology and management solution. The leader of Binh Son Refining and Petrochemical Co., Ltd (BSR) emphasized it was the Dung Quat Oil Refinery Plant that helped Quang Ngai Province gain the 4th position after Ho Chi Minh City, Ha Noi, Ba Ria – Vung Tau in contribution to the State budget. Therefore, he proposed that the Government should keep supporting BSR in the expansion of the Plant, with two options: calling for investment or self- investment. Regarding the power industry, General Director of PV Power affirmed that it will obtain the 5 targets in 2014, those are to stabilize the power output at and beyond 15.7 billion kWh; put Dakdrinh Hydropower Plant project in to commercial operation; successfully operate Vung Ang 1 Thermal Power Plant; overhaul Ca Mau 1 Power Plant, restore and expand Nhon Trach 2 Thermal Power Plant; provide Vung Ang 1 with coal and import coal for power projects of the Group. The PetroVietnam Technical Services Corporation (PTSC) suggested that there should be solutions for PTSC’s further development to enable it to successfully supply services abroad such as board rental, rigs service, FSO, FPS vessel services… PTSC needs the supports from the Government and PVN to dominate the domestic market in field of oil and gas services and develop overseas markets.

Anticipating the challenges in 2014, PVN’s leaders called upon all PVN’s employees and staff to continue to act with high determination-good solution-right action to complete the set targets early. In particular, companies under PVN need to urgently deploy projects of oil and gas exploration and exploitation and power projects. All leaders and employees of the Group are required to make great efforts, determination and creativeness in order to successfully fulfill the set targets for the year 2014. In 2014, the Group will aim the efforts at signing 5-9 new oil and gas contracts, both domestically and internationally, putting 10 new oil and gas fields/projects into exploitation and accelerating the progress of power and oil refining and petrochemical projects…To perform well these tasks, PVN proposed 12 solutions focusing on the need of establishment and implementation of the action plan of social-economic development and state budget estimate for 2014…

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