The Vietnam National Oil and Gas Group (PetroVietnam) has announced a turnover of 627 trillion VND (29.85 billion USD) over the past 10 months, or 0.4 percent more than the same period last year.

Just last month, the total production of oil equivalent reached 2.11 million tonnes, equal to 101 percent of the month's target.

Further, total oil and gas production reached 21.91 million tonnes of oil equivalent (TOE), up 2.3 percent from last year and accounting for 87 percent of the year's target.

The group contributed 145.8 trillion VND (6.94 billion USD) to the State budget during this period, posting a 1.4 percent year-on-year increase and meeting 98 percent of the year's goal.

Of note, PetroVietnam has brought six oil fields into operation in the January-October period, including Hai Su Trang, Hai Su Den, White Rabbit, West Desaru - Malaysia Block PM 304, Jupiter Well 1 and Su Tu Vang Northeast.

Also, production and supply to the national grid last month increased 1.18 billion kWh, equal to 93.4 percent of the target.

The total power production in this period was 13.58 billion kWh, meeting 98.1 percent of the annual plan and representing a year-on-year rise of 11.7 percent.

Production of fertiliser in October reached 140,000 tonnes, while its total production reached 1.32 million tonnes in the period, posting a year-on-year rise of 13.4 percent, including the Phu My fertiliser plant with 672,000 tonnes and Ca Mau fertiliser plant with 643,000 tonnes.

The group also ensured continuing progress in implementing the national key projects in the oil and gas field. It also disbursed 57 trillion VND (2.71 billion USD) in the 10 months, accounting for 71 percent of the year's target.

Additionally, PetroVietnam began several construction projects. It has implemented a restructuring plan approved by PM Nguyen Tan Dung for the 2012-15 period for its member companies.

It has also asked its members to develop effective solutions to fulfill the socio-economic and State budget contribution targets for this year.-VNA