The group will continue to promote oil and gas exploring activities in both domestic and foreign markets. It is also expected to sign additional 6-7 new oil and gas contracts for on-going plots, boost the implementation of key construction projects of the State and the oil and gas sector, and diversify business activities, including product distribution, technical service, and trade and financial services.

Petro Vietnam plans to put the PM3-Ca Mau gas pipeline and the PV Drilling platform into operation in the first quarter of this year. In the third quarter, the group will put a platform in Algeria into operation.

According to Petro Vietnam General Director Tran Ngoc Canh, the group’s plan for oil and gas exploitation in 2007 aims to help Vietnam quickly reduce the export of crude oil from now to 2010.