Priority for oil field development in 2012
PetroVietnam Exploration Production will use all resources to accelerate the deployment of oil field development projects, especially projects give the first oil in 2012.
Despite economic difficulties, as well as the uncertain situation in some countries producing oil and gas in the the world, but the PVEP- the member of the National Oil and Gas Group of Vietnam - still has completed the target soon in 2011 one month ago and became the second in the ranking of 1000's biggest taxpayers in the country.
In 2011, PVEP has explored about 16.8 million tonnes of oil, equavalent to 103% of the plan. Revenue is estimated at VND50,767 billion, reaching 122% of the plan, tax payment was VND17,524 billion, reaching 126% of the plan, and profit after tax was VND13,621 billion, up 8% over 2010.
In 2011, the Corporation has launched four mines in to operation. The Corporation also has signed the EPC -1 contract include design, procurement, fabrication, installation and tested equipment, operation, processing system of oil and gas in the phase I at Bir Seba - Algeria field worth USD451 million. This is the first time a company of Vietnam won the bid package of EPC in abroad.
Search and exploration of PVEP still ongoing. PVEP has 14 projects in and out the country, include 18 drill wells with reserves of 37.8 million tons of oil.
In 2012, PVEP aims to exploit 8.79 million tonnes of oil and condensate, 8.4 billion cubic metre of gas, and sign 3-5 new petroleum contracts.
According to general director - Nguyen Vu Truong Son, PVEP will give priority to focus resources to accelerate the deployment of field development projects, especially projects give the first oil in 2012 and the key projects planned for the product line in coming years.
Source: Xangdau.net
