PetroVietnam develops gas extraction hinh anh 1An oil rig of PetroVietnam (Photo: VNA)

Hanoi (VNA) – The PetroVietnam Exploration Production Corporation (PVEP) is actively developing a number of gas projects with the aim of extracting the first flows of gas at Su Tu Trang (white lion) field in the fourth quarter of 2016 and at Dai Hung field on August 31.

To date, the company has carried out 54 oil and gas projects, including 43 at home and 11 abroad.

To deal with the fluctuation of global oil prices, the PVEP has enacted measures to stabilise business manufacturing activities.

The company exceeded the output target of 2.92 million tonnes of oil in the first six months of 2016, which was set by the Vietnam National Oil and Gas Group (PetroVietnam) thanks to the adjustment of oil prices.

It extracted 2.23 million tonnes of oil and 690 million cubic metres of gas in the period, surpassing the set goals by 4 percent and 11 percent, respectively.

The PVEP will continue to arrange capital resources for exploratory activities while drilling more fields to extract an additional one million tonnes of oil.-VNA