PETROVIETNAM: STRIVE FOR PRODUCTION OF 30 MILLION TONNES OF CONVERTED OIL.
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By 2004, Petrovietnam have set up the goal of increasing production volume of 30 million tonnes of converted oil, pushing commercial production volume which was defined by 2001-2004 up to 130 million tonnes of converted oil. This is a major premise for Petrovietnam can reach the oil production target of both 2001-2005 plan and development strategy to 2010. For this plan, beside speeding up oil exploitation in southern continental shelf and attracting foreign investment in oil production at opening oil fields, Petrovietnam are setting up a plan of overall exploitation in Gulf of Tonkin, depression of Ha Noi in order to effectuate the goal of meeting gas demand in the North.
At present, Petrovietnam are managing and supervising 25 oil and gas contracts which have been still in effect. Since 1988, Petrovietnam have signed 47 oil and gas contracts with foreign companies.
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