The Viet Nam Oil and Gas Group (PetroVietnam) targets an output of 24.8 million tonnes of equivalent oil in 2007.
According to its yearly plan, the group will exploit 17.5 million tonnes of crude oil and 7.3 billion cu.m of natural gas to earn 168.3 trillion VND (10.5 billion USD).
PetroVietnam is currently pumping oil from nine oil fields, including eight at home, namely Bach Ho-Rong, Ruby, Rang Dong, Lan Tay-Lan Do, Su Tu Den, PM3/Cai Nuoc, Dai Hung and Tien Hai, and one in Malaysia, the PM 304.
Last year, PetroVietnam obtained an output of 24.3 million tonnes of equivalent oil, or 98 percent of its yearly plan. Of that figure, the output of crude oil was 17.3 million tonnes and 7 billion cu.m of natural gas.
Despite the lower-than-expected output, the corporation's earnings for the year surpassed its yearly plan by 68.7 percent to nearly 180.2 trillion VND (11.26 billion USD), thanks to high world oil price. The figure represented nearly 18 percent of the country's GDP.
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