State-owned oil monopoly PetroVietnam group has planned to operate five new oilfields sooner than its scheduled in a bid to fulfill its set target to produce between 15.5 million and 16 million tons of crude oil this year regardless of current difficulties in production, CEO Dinh La Thang said.
Mr. Thang told a press conference July 4 in Hanoi that amid growing crude oil prices in the world, ensuring exploitation output is most important to boost export turnover, and make more contribution to the state budget.
To this , he said, the group is working urgently to tap five oil wells ahead of schedule, including Su Tu Vang, Ca Ngu Vang, Phuong Dong, Song Doc and Bunga Orkid with a combined production output of about 100,000 barrels a day.
Ca Ngu Vang (Gold Tuna) and Bungaorkid (Malaysia) wells are expected to bring out the first barrels later this month [July], the official said.
Phuong Dong well will be tapped in August this year, and Su Tu Vang (Gold Lion) and Song Doc in September.
Thang said PetroVietnam is calling for foreign investment in exploring and producing oil and gas in potential areas, while seeking overseas investment opportunities and purchase of oil and gas wells in Africa, America, former SNG countries and Southeast Asia.
The group is finalizing negotiations to sign contracts on oil and gas exploration and exploitation in Russia and Venezuela, Thang said.
It is also taking drastic measures to speed up construction paces of national key oil and gas projects.
In the first half of this year, PetroVietnam produced 10.8 million tons of oil equivalents from 7.2 million tons of crude oil and 3.6 billion cubic meters of natural gas in the first half of this year.
The group obtained revenues of VND142,342 billion (US$8.67 billion), including US$5.6 billion from crude oil exports, and contributed VND50.53 trillion (US$3.08 billion) to the state budget in the January-June. (Thanh Nien Daily, VNA, Labor)
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