The PetroVietnam Exploration and Production Corp (PVEP) tapped 1.8 million tonnes of oil and 701 million cu.m of gas in the first half of 2013, surpassing its targets by 6 percent and 17 percent respectively.
In the period, PVEP also signed two new oil and gas contracts with domestic partners and put four new oil fields into operation, one of which pumped the first oil stream.
In the remaining half of this year, PVEP needs to make every effort to complete its planned output targets.
This is a great challenge to the corporation as reserves in operating fields are falling sharply while the new small ones are likely to see their progress behind of schedule.
Meanwhile, the development of oil projects comes up against difficulties because of the economic downturn in the world and unstable political situation in countries with oil potential.
Difficulties in capital sources and lack of high-quality human resources also hinder PVEP from fulfilling its targets.
PVEP is promoting geological and geophysical surveys to locate drilling areas for the building standby drilling rigs to raise oil reserves.
It is also strictly controlling the progress and cost of exploitation and exploitation projects while actively implementing research on non-traditional fields such as hard oil, bitumen, coal gas, shale gas.-VNA
In the period, PVEP also signed two new oil and gas contracts with domestic partners and put four new oil fields into operation, one of which pumped the first oil stream.
In the remaining half of this year, PVEP needs to make every effort to complete its planned output targets.
This is a great challenge to the corporation as reserves in operating fields are falling sharply while the new small ones are likely to see their progress behind of schedule.
Meanwhile, the development of oil projects comes up against difficulties because of the economic downturn in the world and unstable political situation in countries with oil potential.
Difficulties in capital sources and lack of high-quality human resources also hinder PVEP from fulfilling its targets.
PVEP is promoting geological and geophysical surveys to locate drilling areas for the building standby drilling rigs to raise oil reserves.
It is also strictly controlling the progress and cost of exploitation and exploitation projects while actively implementing research on non-traditional fields such as hard oil, bitumen, coal gas, shale gas.-VNA
