Despite adversity in exploitation, the corporation will strive for the targeted output of 15.5-16 million tonnes of crude oil in 2008, said Mr Dinh La Thang, Chairman of the Board of the Vietnam Oil and Gas Corporation (PVN), at a recent press conference in Hanoi.

According to Thang, PVN has speeded up progress to soon exploit its five new oilfields. In July this year, the Ca Ngu Vang and Bungaorkid oil fields will have their first oil barrels, followed by Phuong Dong, Su Tu Vang and Song Doc oil fields in the subsequent months.

In the first six months of 2008, PVN exploited around 7.19 million tonnes of crude oil, reaching 95% of its target. Particularly, the corporation’s crude oil export turnover during this period is estimated at 5.72 million USD, an increase of 55% compared to the same period last year.

Source: NLD

Translated by Vu Hung