Deputy Prime Minister Nguyen Sinh Hung has asked the National Oil and Gas Group, PetroVietnam, to catch up with regional and even international rivals in finance, human resource and technical standards.

The senior Gov’t official said at the group’s year-end review in Hanoi on January 16 that it should continue restructuring the mechanism and the staff to record three key objectives of productivity, quality and efficiency.

“2010 is the decisive year of the 2006-2010 plan and the transitional year towards the next five year plan, the PetroVietnam should fulfil its role as a leading economic group that contributes to some 18 percent of the gross domestic product and 25 percent of the national budget,” said Hung.

He called on the State-owned giant to achieve all major targets for 2015, capable of undertaking all services related oil and gas production and marketing.

Other targets set by the group for the next five years included producing 30 million tonnes of petrochemicals, generating 30 percent of the national power output and making up 50 percent of the domestic nitrogenous fertiliser market.

The Deputy Prime Minister expressed expectation that the PetroVietnam would successfully play a decisive role in regulating the macro economy and ensure energy security in the interest of national development.

In return, PetroVietnam President Dinh La Thang pledged to make its dream for a regional leader in oil and gas come true by 2015.

“PetroVietnam will contribute some 18 percent to the GDP and 16 percent to the nation’s gross export revenues while promoting its brand as a national trademark to deserve its position as a national economic giant,” emphasised the group executive./.