Business

Vietsovpetro set to produce over 2.9 mln tonnes of oil equivalent

The Vietnam – Russia oil and gas joint venture Vietsovpetro aims to exploit over 2.9 million tonnes of oil equivalent and 65.4 million cu.m of natural gas next year, according to the company.
Vietsovpetro set to produce over 2.9 mln tonnes of oil equivalent ảnh 1Illustrative photo (Source: petrovietnam.petrotimes.vn)
Hanoi (VNA) – The Vietnam – Russia oil and gasjoint venture Vietsovpetro aims to exploit over 2.9 million tonnes of oil equivalentand 65.4 million cu.m of natural gas next year, according to the company.

The venture also aims to generate more than 1.3 billion USDin revenue from oil sales and nearly 190 million USD in profit while contributing679 million USD to the State budget in 2022.

Ending 2021, Vietsovpetro’s oil output exceeded 3.16 milliontonnes and natural gas output reached 82.3 million cu.m, surpassing the yearlyplan by 5.5 percent and 7.4 percent, respectively.

Its oil and gas sales hit over 1.68 billion USD while profittotalled 282,5 million USD, 50 percent and 73 percent, respectively, higherthan the plan. It contributed nearly 922 million USD to the State budget, 317million USD higher than the goal, or 53.4 percent. Profit for both sides was 282.5 million USD, equal to 173 percent of the set target./.

VNA
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