PVEP to produce 0.23 million tonnes of oil equivalent this month

Sư Tử Trắng (White Lion) oil rigs. The PetroVietnam Exploration Production Corporation (PVEP) plans to produce an estimated 0.23 million tonnes of oil equivalent this month. Photo pvep.com.vn

HÀ NỘI — The PetroVietnam Exploration Production Corporation (PVEP) plans to produce an estimated 0.23 million tonnes of oil equivalent, including 0.18 million tonnes of oil and condensate and 54 million cu.m of gas, this month.

In January, the State-owned corporation generated 0.31 million tonnes of oil equivalent, surpassing the monthly goal by 8 per cent. The volume included 0.21 million tonnes of oil and condensate and 98 million cu.m of gas, 3 per cent and 22 per cent, respectively, higher than the month’s plan.

The company attributed last month’s success to the higher performance of a number of oil fields, such as Sư Tử (Lion), Tê Giác Trắng (White Rhino), Đại Hùng (Big Bear), CNV, RD-PD and Bir Seba.

Its January revenue exceeded VNĐ3.58 trillion (US$156.81 million), 55 per cent higher than the plan and post-tax profit reached over VNĐ1.12 trillion. The company contributed nearly VNĐ1.1 trillion to the State budget.

Its total output is expected to reach 3.18 million tonnes of oil equivalent this year. — VnExpress News