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The tempo of PVN production and business has been kept up

The tempo of PVN production and business has been kept up - 

In the first 6 months of 2015, the Vietnam Oil and Gas Group (PVN) already kept the tempo of production and business and  completed exceedingly the 6 month plan with a higher rate in comparison with the same period of 2014.

Mr. Nguyen Xuan Son the Chairman of PVN and Ms. Melody Meyer, the President of Asia - Pacific Chevron sign the Agreement for transferring shares and executive right from Vietnam Chevron to PVN.

According to the PVN report, the results of implementing plan of the first half of 2015 of the Group can be summarized as follows:

No item

Amount

Rate of 2015 plan(%)

Above 2015 half plan (%)

Above 2014 half plan (%)

Oil & Gas reserve

Increase (million ton eq.oil)

18.27

52.2

-

-

Oil & Gas output, (million tons, eq.oil)

14.71

55.3

8.5

6.1

Crude oil output, (million ton)

9.28

55.2

10.1

9.5

Gas output (billion M3)

5.43

55.4

5.8

1.0

Electricity (output, TWh)

11.48

62.0

27.5

36.0

Nitro - fertilizer (million ton)

0.802

52.6

7.2

-

Petrol output (million ton)

3.47

62.5

24.5

41.4

Fibre output (thousand ton)

39.2

34.0

2.0

0

Total turnover (VND thousand

Billion)

296.1

41.0

-11.7

-22,0

Sending inBudget (VND thousand billion)

63.6

40.0

-11.6

-26.0

PVN General Director Nguyen Quoc Khanh (Red shirt in the middle) is directing work in the Bir Seba mine (Algeria).

Regarding the State and PVN main point petroleum projects, the rate of progress of implementing them was closely controlled. The value of investment capital for these projects in the first half of the year reached VND 41.7 thousand billion, accounting 75% half year plan and 40% year plan.

In the first 6 months of 2015, PVN had put the Vung Ang 1 Thermal Power Plant (TPP) into commercial operation; started to: construct Song Hau 1 TPP, two synthetic petroleum services port base projects, national petrol reserve storehouse in Phu Quoc and invest Ca Mau Gas Power Plant (GPP).

Especially, in the first 6 months of 2015, PVN had completed a transaction to purchase assets of Chevron contractor in B, 48/95, 52/97 gas lots and B Lot – Omon gas pipeline projects for PVN to initiatively invest and develop and rapidly put them into operation serving socio-economic development of the country.

In the second half of 2015, PVN continues to promote implementing 2015 plan for petroleum search, exploration and assessment in order to increase petroleum reserves in 2015 to 35- 40 million ton of equivalent oil.

At the same time, the foreign affairs and international cooperation on petroleum will be strengthened for PVN to find out the good projects abroad for investment, and call the large and prestigious petroleum companies in the world to participate in investment in PVN projects.

Besides, PVN continues to check and optimize the working program and costs for exploiting projects. PVN also continues to check all the factors affecting the petroleum production in 2015, balance domestic and abroad oil production outputs in 2015 and strive to fulfill exceedingly petroleum exploitation targets assigned by the Government.

VietnamEnergy.vn

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