Vietsovpetro, a joint Vietnamese-Russian enterprise for oil and gas exploration, has set to exploit 5 million tons of crude oil and put into operation several oil fields in 2016.

The information was heard at the 45th meeting of Vietsovpetro’s Council in the southern province of Ba Ria- Vung Tau on December 10.

Oil rigs of Vietsovpetro. Photo: VNA

The event saw the participation of representatives from ministries and sectors of the Vietnamese and Russian Governments, the Vietnam Oil and Gas Group (PetroVietnam), the Russia’s oil and gas group AO Zarubezhneft and Vietsovpetro executives.

The meeting approved construction and repair plans for sea-based facilities, as well as plans on finance and production zone expansion.

In 2014, Vietsovpetro brought ashore 5.2 million tons of crude oil, earned nearly USD 2.19 billion, and contributed to the State’s budget nearly USD 1.138 billion.

The group had put into operation the ThTC-02 oil rig in the Tho Trang (White Rabbit) oil field one and a half months ahead of schedule.

Source: VNA