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PVEP posts VNĐ3.5 trillion profit

Update: December, 26/2017 - 17:45
An oilfield of PetroVietnam Exploration and Production Corporation. — Photo giaoduc.net.vn
Viet Nam News

HÀ NỘI — PetroVietnam Exploration and Production Corporation (PVEP) has estimated after-tax profit of VNĐ3.5 trillion (US$154.1 million) in 2017.

At a meeting to review its operation held in Hà Nội on Monday, PVEP said its total revenue this year also surpassed 11 per cent of the set target to reach VNĐ34 trillion.

Its total assets were VNĐ135 trillion and ownership capital was VNĐ70.7 trillion. It contributed VNĐ8.6 trillion to the State budget.

As of November 29, 2017, its total output was 3.66 million tonnes

The corporation this year completed and brought some oilfields into operation such as Đại Hùng’s (Big Bear) gas gathering project and the water disposal and discharge project connecting Tê Giác Trắng (White rhinoceros), 11 days sooner than set plans.

PVEP plans to focus on safe and effective exploitation of its oilfields to ensure output of 3.66 million tonnes, 32 days sooner than its set targets next year.

The corporation’s general director Ngô Hữu Hải asked all employees complete the targets of 1.3 million tonnes of crude oil and 1.5 billion cu.m gas in 2018. — VNS



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