PetroVietnam: Business results and outstanding activities in July and the first 7 months of 2014

The petroleum exploration activities have been implemented as scheduled. By July 2014, the Group has explored and assessed 19 drilling wells, among them 12 wells have been completed and 07 wells have been implementing.

In July 2014, 02 new mines were put into operation, i.e. Dong Do mine of block 01/97-02/97 since 7th July and Dua mine of block 12W since 10th July. Generally in 7 months, 04 new mines have been put into operation namely Diamond mine (Block 01&02 since 18th May); Thang Long mine (since 06th June); Dong Do mine (since 07th July) and Dua mine (since 10th July).

Total production of oil equivalents in July was 2.22 million tons, exceeding 3% of the month’s plan. Generally in 7 months, it was 16.09 million tons, exceeding 10% of 7-month target assigned by the Government and equivalent to 62.6% of the year’s plan assigned by the Government, an increase of 2.2% over the same period last year.

Electricity production in July was 1.11 billion kWh, equivalent to 143% of the month’s plan. Generally in 7 months, it was 9.55 billion kWh, equivalent to 113% of 7 months’ plan and 61% of the year’s plan.

Fertilizer production in July was 113 thousand tons, equivalent to 110% of the month’s plan. Generally in 7 months, it was 949 thousand tons, equivalent to 105% of 7 months’ plan and 62% of the year’s plan assigned by the Government, an increase of 1% over the same period last year (of which: 500 thousand tons were produced by Phu My Fertilizer Plant, accounting for 107.2% of the plan; 449 thousand tons were produced by Ca Mau Fertilizer Plant, accounting for 103% of the plan).

Petroleum production of the entire Group in July was 426 thousand tons, equivalent to 158% of the month’s plan. Generally in 7 months, it was 2.88 million tons, equivalent to 120.7% of 7 months’ plan assigned by the Government and 62% of the year’s plan (of which: 200 thousand tons were produced by Phu My Condensate Processsing Plant, 2.68 million tons were produced by Dung Quat Oil Refinery Plant). Dung Quat Oil Refinery Plant resumed its operation since 11th July and its total production in 7 months was 2.94 million tons, equivalent to 120% of 7 months’ plan and 61% of the year’s plan.

Total turnover of all units under the Group was 434 trillion dong, equivalent to 121% of 7 months’ plan and 65% of the year’s plan.

The Group has contributed 98.6 trillion dong to the State budget, equivalent to 124% of 7 months’ plan and 70% of the year’s plan, an increase of 1.8% over the same period last year.

The science, technology and training activities were actively deployed. The oil and gas security, environmental safety, occupational safety, fire prevention on the oil and gas projects were monitored closely and taken seriously. Social welfare work was continued in accordance with the committed amount of 350 billion dong for the first 7 months (committed amount for the whole year was 500 billion).

Thrift practice and waste combat was seriously implemented throughout the Group; all the member units deployed the Action Plan for lower product cost and price. As a result, in the first 7 months of 2014, the Group has reduced approximately 1,900 billion dong, equivalent to 55% of the year’s plan.

Source: PVN