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Vietsovpetro announce end of year results

Update: December, 20/2012 - 11:39

HA NOI (VNS)– Vietsovpetro, a joint-venture between Viet Nam and Russia, has exploited 6.11 million tonnes of oil and 1.23 billion cubic metres of gas in 2012, generating a yearly revenue of more than US$5billion, general director Nguyen Huu Tuyen announced at the company's regular meeting yesterday.

This is the fourth consecutive year the company's annual revenue has exceeded $5 billion.

This year the joint venture has explored eight oil-bearing beds, but failed to exploit oil at three of them.

As many as 34 new oil wells were exploited, five more than initially planned.

The company have set a target for next year to exploit 5.4 tonnes of crude oil and 1.3 billion cubic metres of gas. It also plans to continue its exploiting service for surrounding wells. – VNS

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