Illustrative image (Source: VNA)
Hanoi (VNA) – The Vietnam National Oil and Gas Group (PetroVietnam) plans to exploit 6.49 million tonnes of oil equivalent, including 3.88 million tonnes of crude oil and 2.61 billion cubic metres of gas in the remaining months of this year.

The plan aims to lift the total output in the year to 27.59 million tonnes of products, raking in 514 .5 trillion VND (23.15 billion USD) in revenues and contributing 104.2 trillion VND (4.68 billion USD) to the State budget.

To that end, the group will expand exploration in high-feasible areas. It will also focus on examining factors that can affect the group’s exploitation for timely solutions.

It will operate gas pipelines and processing plants in a stable and safe manner to improve the processing efficiency.

It will also continue directing its subsidiaries to accelerate restructuring of approved enterprises, while coordinating with the Government Office and relevant ministries and sectors to have more firms approved for restructuring.

In the last three quarters, PetroVietnam produced over 21.1 million tonnes of oil equivalent, or 82.3 percent of the yearly target. Of which, the crude oil output was 13.03 million tonnes.

The group earned 327.4 trillion VND (14.7 billion USD) in revenues in the period, fulfilling 64 percent of the plan set for the year.

Its industrial production value and domestic crude oil exploitation exceeded 11 percent and 8.1 percent respectively in comparison with the nine-month targets, significantly contributing to the nation’s 5.93 percent GDP growth in the period.-VNA