The Vietnam National Oil and Gas Group (PetroVietnam) should further enhance oil and gas exploration and expand its cooperation with other partners in the sector so as to make it become the leading economic group in the country and have a higher position in the region and the world.

Prime Minister Nguyen Tan Dung made the statement at the group’s conference held in Hanoi on January 15 to work out measures to implement this year’s plan.

He praised important contributions made by PetroVietnam to the country’s socio-economic development, especially in ensuring energy security and protecting the country’s sovereignty.

The PM also asked the group to strictly carry out the restructuring, saying that PetroVietnam should focus on equitisation and building specific strategies to optimise its operations.

He also emphasised the necessity to pay attention to enhancing professional skill of staff and workers and the business management ability in the group.

Last year, PetroVietnam completed all targets set for the year. It produced 15 million tonnes of crude oil, 30 percent higher than the target.

In second half of the year, the group began tapping into two new oil fields and increased oil production abroad.

Higher production helped it realise its financial plan for the whole year, with total revenue of 672 trillion VND (32 billion USD ), of which 170 trillion VND (2.8 billion USD) went into the State budget.

The group’s oil and gas exploration and exploitation were conducted both in and outside the country.

The implementation of key projects was strictly managed in accordance with the directions of the Prime Minister.-VNA