Oil rigs of the Vietsovpetro (Photo: VNA)
 
Ba Ria-Vung Tau (VNA) – The Vietnam-Russia oil and gas joint venture Vietsovpetro posted total revenues of more than 950 million USD from the sales of oil, gas and condensate in the first six months of this year, contributing 452.4 million USD to the State budget.

The Vietnamese side received 95 million USD in profit in the period and the Russian side, 129.4 million USD, it was reported at the 51st meeting of the Russia-Vietnam Joint Committee in the southern coastal province of Ba Ria-Vung Tau on July 11.

The meeting was attended by officials from related ministries and agencies of Vietnam and Russia, the Russian Consul General in Ho Chi Minh City, and representatives from Russia’s State-owned oil group Zarubezhneft and the Vietnam National Oil and Gas Group.

Vietsovpetro General Director Nguyen Quynh Lam said the corporation over-fulfilled most key targets, including oil, gas and condensate exploitation, gas transportation to land, installation and reparation of sea structures, revenues, contributions to Vietnam’s State budget and profits of both sides.

Specifically, Vietsovpetro pumped more than 1.92 million tonnes of oil and condensate, surpassing the target by 8 percent, and 75 million cubic metres of natural gas, equivalent to 121 percent of target, while transporting more than 534 million cubic metres of gas, more than double the plan.-VNA