PVEP to produce 0.23 million tonnes of oil equivalent this month

Illustrative photo. (Source: VNA)

Hanoi (VNA) – The PetroVietnam Exploration ProductionCorporation (PVEP) plans to produce an estimated 0.23 million tonnes of oil equivalent,including 0.18 million tonnes of oil and condensate and 54 million cu.m of gas,this month.

In January, the State-owned corporation generated 0.31million tonnes of oil equivalent, surpassing the monthly goal by 8 percent. Thevolume included 0.21 million tonnes of oil and condensate and 98 million cu.mof gas, 3 percent and 22 percent, respectively, higher than the month’s plan.

The company attributed last month’s success to the higher performance of a number of oil fields, such as Su Tu (Lion), Te Giac Trang(White Rhino), Dai Hung (Big Bear), CNV, RD-PD and Bir Seba.

Its January revenue exceeded 3.58 trillion VND (156.81million USD), 55 percent higher than the plan and post-tax profit reached over1.12 trillion VND. The company contributed nearly 1.1 trillion VND to the Statebudget.

Its total output is expected to reach 3.18 million tonnes ofoil equivalent this year./.

VNA