Vietsovpetro targets 5.4 million tonnes of crude oil in 2013
(VOV) -The Vietnamese-Russian oil and gas joint venture enterprises (Vietsovpetro) plans to exploit 5.4 million tonnes of crude oil and bring ashore 3.06 billion cubic metres of gas this year.
The information was released at the Vietsovpetro conference held in HCM City on January 14.
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To achieve the set target, the joint venture will begin construction on 3 exploratory oil wells and is expected to complete 22 others.
Vietsovpetro pumped up more than 6 million tonnes of crude oil in 2012 and collected 1.25 billion cubic metres of gas.
It earned total revenue of US$5.43 billion, contributing significantly to the State budget. Its US$3.54 billion profit exceeded its initial target by 47 percent.