Prime Minister Nguyen Tan Dung has praised the Vietnam National Oil and Gas Group (PetroVietnam) for its fast and comprehensive development in exploration, production, refining, transporting, exporting and for mastering the latest, most modern technologies.

In his message of congratulations sent to PetroVietnam on August 30 on its 35 th anniversary, PM Dung commended the nation’s oil and gas sector for the important contributions it has made to the country’s achievements and its active involvement in issues of sovereignty and social welfare.

PetroVietnam has now become the country’s leading economic group and is striving to be equal to other regional and global oil and gas groups, he said.

When addressing the ceremony to mark the event, the General Director of PetroVietnam, Phung Dinh Thuc, said that the national oil and gas sector has recorded some outstanding progress over the past 35 years, as Vietnam is now listed as one of the world’s oil and gas producers and ranks third amongst Southeast Asian Nations, producing 15-17 million tonnes of crude oil and 8-10 billion cubic metres of gas per year.

With an annual growth rate of almost 20 percent, PetroVietnam makes up 18-20 percent of the country’s GDP and 20-30 percent of the States income, noted Thuc.

PetroVietnam is carrying out 22 investment and cooperation contracts in 13 countries among the 49 deals already reached with other countries around the world.

The Chairman of PetroVietnam Management Board Dinh La Thang, said that the group is striving to become a strong economic conglomerate in the region, with an annual growth of 18-20 percent from now until 2015.

To reach this target, he said that PVN is focusing on solutions in human resources, science and technology and management to become a spearhead economic sector and contribute more to the national industrialisation and modernisation process./.