PVN held Conference to Summarize 2013 Activities and Implement 2014 Plan

PVN held Conference to Summarize 2013 Activities and Implement 2014 Plan - 

This morning (15th January) in Hanoi, Vietnam National Oil and Gas Group (PVN) held a Conference regarding Summary of 2013 Activities and Implementation of 2014 Plan. The Conference was attended and directed by Mr. Nguyen Tan Dung, member of the Politburo and Prime Minister.

Prime Minister Nguyen Tan Dung, Chairman Phung Dinh Thuc, President & CEO Do Van Hau chaired the Conference

The Conference were also attended by representing leaders of the Central Economic Commission, Central Organization Commission, Office of the Government, the Party Committee of Central Business Sector, Ministry of Industry and Trade, Ministry of Planning and Investment, Ministry of Finance, General Department of Energy, General Department of Taxation. Vietnam National Oil and Gas Group was represented by Mr. Phung Dinh Thuc, Chairman of the Board of Directors, Mr. Do Van Hau, President & CEO, and members of the Board of Directors, Executive Management Board, leaders of PVN member units, former leaders of PVN over periods.

President & CEO Do Van Hau reported at the Conference

On behalf of the Group’s leaders, President & CEO Do Van Hau had a report to summarize 2013 activities: The Group successfully and comprehensively fulfilled all the targets and the tasks assigned by the Government, completed ahead of schedule all the set targets. Total sales of all units under the Group reached 762.86 trillion dong, 18% exceeding the year plan.The Group’s contribution to the State budget was 195.4 trillion dong, 31.5% exceeding the year plan, an increase of 4.5% compared to 2012, 46.8 trillion dong (USD 2.22 billion) exceeding the year plan. Despite the State budget contribution was in difficult situation in 2013, the Group’s submission to the State budget exceeded 46.8 trillion dong - equivalent to US$ 2.22 billion compared to the plan, an important contribution to the balance of 2013 budget by the Government.

Increased oil and gas reserve was 35.6 million tons of oil equivalents (33.1 million tons domestically and 2.5 million tons abroad).

There were 05 new oil and gas discoveries, namely Kinh Ngu Vang - 1X, Dai Nguyet - 2X, Nam Du - 1X, Te Giac Trang - 10X and Kinh Ngu Trang Nam -1X.

Total production of oil equivalents was 26.46 million tons. Total electricity output of the Group in 2013 was 16.17 billion kWh. Total nitrogen production in 2013 was 1.60 million tons, in which Phu My Fertilizer Plant produced 820.6 thousand tons, equivalent to 107% of the year plan, Ca Mau Fertilizer Plant produced 781.6 thousand tons, equivalent to 104% of the plan year.

In 2013, petroleum production across the Group was 6.60 million tons - 62 days finish ahead of schedule, equivalent to 122.5% of the year plan (in which: Phu My Condensate Processing Plant produced 560.3 thousand tons, Dung Quat Oil Refinery produced 6.04 million tons)

The enterprise restructuring plan was implemented expeditiously and strictly, meeting the schedule required in the Decision No. 46 of the Prime Minister.

Almost all the units under the Group comprehensively fulfill and overfulfilled the set targets of the year, typically Vietsovpetro, PetroVietnam Exploration Production Corporation (PVEP), PetroVietnam Power Corporation (PV Power), Binh Son Refining and Petrochemical Co., Ltd. (BSR), PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo) ... All of them overfulfilled the production targets of 2013.

The President & CEO emphasized that those important targets were achieved thanks to the leadership, the close and effective direction of the Party, the Government and the Prime Minister; the increasingly tighter support to the Group from the Ministries/ Departments, Central Sectors, local authorities; the solidarity of the Group’s leaders, the dynamic, creative leaders who timely seize opportunities and actively cope with unpredictable fluctuations of the market; and strict implementation of the motto “never put off till tomorrow what you can do today”.

In the business plan of 2014, PVN would strive to overfulfill the year plan and exceed all targets of 2013. To perform well such tasks, PVN proposed 12 solutions which focus on: Establishment and implementation of the Group’s Action Plan to realize the Prime Minister’s Message early this year "To perfect the institutions, promote people's mastery, perform well the tasks of 2014, form the basis for rapid and sustainable development" and the Government’s Resolutions on the solutions directing and managing the implementation of economic-social development and the State budget estimation plan for 2014.

At the conference, Vietsovpetro General Director revealed that for the past year Vietsovpetro’s revenue was US$ 4.75 billion, exceeding US.05 billion. That was resulted from the solutions applied by Vietsovpetro such as persistent exploration and application of science and technology and management solutions.

Mr. Nguyen Hoai Giang, BSR Chairman of Board of Directors emphasized it was Dung Quat Oil Refinery that made Quang Ngai Province ranked 4th after Ho Chi Minh City, Hanoi, Ba Ria - Vung Tau in the State budget contribution. He proposed the Government continue to support BSR in the expansion of Dung Quat Oil Refinery.

With regards to the power industry, PV Power General Director Vu Huy Quang emphasized 5 targets that PV Power would do well in 2014 is to stabilize power output at and beyond 15.7 billion kWh; put Dakdrinh Hydropower Project into commercial operation; successfully operate Vung Ang 1 Thermal Power Plant; successfully overhaul Ca Mau 1 Power Plant, restore and expand Nhon Trach 2 thermal power plant; provide coal for Vung Ang 1 and import coal for power projects of the Group.

In the field of high quality Petroleum Engineering Services, PTSC has been successful in developing the services abroad with such kinds of services as boat rentals, rigs service, FSO, FPSO vessel services... According to PTSC, there should be solutions for further development of the state-owned enterprises including PTSC; PTSC asked for the Government and PVN’s support so that it can dominate the domestic oil and gas services.

Prime Minister Nguyen Tan Dung addressing at the Conference

Addressing at the conference, Prime Minister Nguyen Tan Dung generalized the country's economic situation, and emphasizes PVN’s enormous contribution to the country’s economic- social development in 2013.

Specifically, PVN has contributed to ensuring national energy security; national sovereignty; national economic growth, macroeconomic stability, increasing the State budget. At the same time, the Prime Minister highly appreciated PVN’s spirit and responsibility in implementing the policies of the Party and the Government in the past year. The Government appreciated PVN’s management capacity and skills on such areas as petrochemical refining, oil and gas services.

The Prime Minister expected that PVN would continue to promote the fine traditions of the oil and gas industry, make every effort to achieve good business results and continue overcoming the limitations and shortcomings in 2014.

Prime Minister Nguyen Tan Dung also assigned the following tasks to PVN: PVN is to focus on giving instructions to develop the capabilities, gain better achievements than 2013, promote oil and gas exploration and production to benefit our country and ensure national sovereignty on the sea as well. PVN is to rapidly build the gas-powered center in the Central region on the basis of newly discovered gas resources and finish negotiation on the gas development project, Block B. PVN is to continue building the oil and gas industry with high competitiveness, prepare strategies for the development of oil and gas industry to 2025, vision to 2050. PVN is to seriously perform restructuring of the Group, continue equitization of enterprises. And finally, the Prime Minister asked PVN to build "both talented and virtuous" staffs, build PVN’s Party stronger and stronger.

Chairman Phung Dinh Thuc delivered speech

In response to the Prime Minister’s direction, PVN Chairman of Board of Directors Phung Dinh Thuc expressed sincere thanks to the Party, the Government and the Prime Minister for their deep concern to PVN’s development. Mr. Phung Dinh Thuc promised together with PVN’s leaders to comply with the Prime Minister’s direction at the Conference so that PVN develop rapidly and sustainably in 2014, creating favourable conditions for the coming years.

Prime Minister Nguyen Tan Dung awarded the honors of the Party and the State to PVN’s teams and individuals

At the Conference, Prime Minister Nguyen Tan Dung awarded the title of Labor Hero to Mr. Nguyen Hung Dung, PVN Vice President; Third Class Independence Medal to Vietnam Petroleum Institute; First Class Labor Medal to PVN President & CEO Do Van Hau, BOD member Nguyen Xuan Thang, Head of Vung Ang - Quang Trach Project Management Board Pham Van Dinh, PVN Oil and Gas Exploration and Production Board; and the Government's Emulation Flag of 2013 to Vietnam National Oil and Gas Group.

Deputy Minister of Industry and Trade Ho Thi Kim Thoa awarded Second Class Labor Medal to 05 teams and 06 individuals, and awarded the Government's Emulation Flag to 11 units under the Group with outstanding achievements in 2013.

Deputy Minister of Industry and Trade Ho Thi Kim Thoa awarded to the teams and individuals

Chairman Phung Dinh Thuc and President & CEO Do Van Hau also awarded honors to PVN teams and individuals for their excellent performance in 2013.

Also in the framework of the Conference, on behalf of the Group's leaders, President & CEO Do Van Hau launched the production emulation movement 2014 across the Group with 7 key contents.

On behalf of the Group’s leaders, Chairman Phung Dinh Thuc concluded the Conference: the Group strongly agreed with the reports and the presentations at the conference. Anticipating the difficulties in 2014 and implementing solutions, Chairman Phung Dinh Thuc called upon PVN officers, employees and workers to continue to act with High Determination – Good Solution – Right Action – Early Finish to successfully complete the tasks of 2014 and create strong momentum in the coming years. Building Vietnam National Oil and Gas Group into a model of the state-owned enterprise that meets the expectations of the Party, the State and the people.

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