VIETSOVPETRO MARKS 25TH FOUNDING ANNIVERSARY
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(VOV) - A ceremony was organised in the southern province of Ba Ria-Vung Tau on November 21 to celebrate the 25th founding anniversary of the Vietsovpetro joint venture.
Present at the ceremony were permanent Deputy Prime Minister Nguyen Sinh Hung, Minister of Industry Hoang Trung Hai and many other Vietnamese and Russian officials.
Deputy PM Hung praised Vietsovpetro's operations, which, he said, have helped ensure fuel and energy demands of the country's economic development, contribute to the State budget and bring benefits to both partners in the joint venture.
He expressed his sincere thanks to the government, officials and workers of the former Soviet Union and the current Russian Federation for their valuable assistance to and close cooperation with Vietnam through Vietsovpetro.
The Deputy PM hoped that the enterprise would retain its leading position in the Vietnamese oil and gas industry and gain greater achievements, thereby helping to speed up national modernisation and industrialisation, as well as to boost the traditional friendship and cooperation between the governments and people of Vietnam and the Russian Federation.
Over the past 25 years, Vietsovpetro has produced 160 million tonnes of crude oil and brought ashore 16.5 billion cubic metres of condensate and liquefied gas.
The joint venture has fetched a total of US$33 billion from crude oil exports, ranking Vietnam third in oil production and exports in Southeast Asia. It has also contributed US$21 billion to the Vietnamese State budget.
In addition, Vietsovpetro has taken part in the construction of many key projects and provided services for oil and gas companies both at home and abroad, earning from US$30-50 million a year. The enterprise has also granted nearly US$24 million to charitable and social activities in localities nationwide.
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