(Photo: VNA)
Ba Ria-Vung Tau (VNA) – The Vietnam-Russia Oil and Gas JointVenture Vietsovpetro has set targets for 2018 of pumping 4 million tonnes of oiland condensate and 126.5 million cubic metres of natural gas.
Vietsovpetro General Director Tu Thanh Nghia announced the goals at aconference reviewing operation in 2017 held on December 28.
The joint venture set plan to generate 1.55 billion USD in revenue, and profitfor the Vietnamese side is expected at 115 million USD and that for Russia isnearly 111 million USD.
In 2017, the company exploited over 4.73 million tonnes of oil and condensateand 234 million cubic metres of natural gas, or 95 percent and 124 percent ofthe yearly plan, respectively. It pocketed 1.97 billion USD in revenue, 3.5percent higher than the yearly goal.
The success was partly thanks to the venture’s efforts to apply advancedsolutions and internal services to save costs.-VNA
VNA