PetroVietnam persist in mission in East Sea

VGP – The Vietnam Oil and Gas Corporation (PetroVietnam) is determined to conduct exploration projects in the East Sea as planned along with protecting the country’s sovereignty over its territorial waters, said PetroVietnam Chairman Đinh La Thăng.

June 15, 2011 11:02 AM GMT+7

Illustration photo

PetroVietnam attaches much importance to defending the country’s sovereignty over its territorial waters and islands, Mr. Thăng asserted during a press conference on June 14 in Hà Nội.

According to Chairman Thăng, PetroVietnam is striving to become a big oil and gas group in the region and the world.

“We will resolve all current disputes in the spirit of stability and peace, and, first of all, for the national interests”, he added.

The group has pocketed around VND 340 trillion in revenues in the first half of 2011, which surpassed the plan by 15% and represented a rise of 45% against that of the same period last year.

PetroVietnam has so far this year posted an oil production of 11.81 million tons, including 7.21 million tons of crude oil and 4.6 billion cu.m of gas.

In the second half, PetroVietnam will raise oil reserve to 20-25 million tons, oil production to 30-35 million, and revenue to around VND 300 trillion./.

By Kim Anh