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Vietsovpetro targets 1.38 billion USD in revenue in 2020

The Vietnam-Russia oil and gas joint venture Vietsovpetro has planned to earn 1.38 billion USD in revenue in 2020.
Vietsovpetro targets 1.38 billion USD in revenue in 2020 ảnh 1The BK-20 rig belonging to the Bach Ho oilfield. (Photo: VNA)

BaRia – Vung Tau (VNA) - TheVietnam-Russia oil and gas joint venture Vietsovpetro has planned to earn 1.38billion USD in revenue in 2020.  

Speaking at a conference on January 3 to review its operations in 2019and set out orientations and tasks for 2020, leaders of the joint venture saidthe Vietnamese side is hoped to gain 102 million USD in profit, while theRussian side, 98 million USD.

The firm is expected to contribute 630 million USD to the State budget thisyear.

At the 52nd meeting of theVietsopetro Council, the two sides set a goal to produce 3.12 milliontonnes of oil and 70.4 million cu.m of natural gas in 2020.

In 2019, Vietsovpetro put two oil rigs into operation,meeting its target to expand exploitation areas.

Thanks its efforts, the joint venture’s oil output increased over236,000 tonnes.

Vietsovpetro rakedin 1.79 billion USD from oil sales in theyear, equivalent to 112.4 percent of the set plan.

It earned 446.4 million USD inprofits and contributed over 1.15 billion USD to the State budget./.
VNA
#Vietnam-Russia oil and gas joint venture #Vietsovpetro #profit #2019 #Vietnam #Vietnam News #Vietnam News Agency #Vietnamplus Russia
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