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VietNamNews

PetroVietnam exploration arm surpasses oil and gas target

Update: June, 28/2013 - 11:59

HA NOI (VNS)— The PetroVietnam Exploration and Production Corp (PVEP) tapped 1.8 million tonnes of oil and 701 million cu.m of gas in the first half this year, surpassing its targets by 6 per cent and 17 per cent respectively.

In the period, PVEP also signed two new oil and gas contracts with domestic partners and put four new oil fields into operation.

In the remaining half of this year, PVEP needs to make every effort to complete its output targets.

This could be a challenge for the corporation because reserves in existing fields are falling sharply while new, smaller fields are likely to fall behind schedule.-VNS


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