PVEP’s contribution to State budget exceeds 92 per cent of target

PVEP’s contribution to State budget exceeds 92 per cent of target

HÀ NỘI — PetroVietnam Exploration Production Corporation (PVEP) contributed more than VNĐ 七. 九 九 trillion (US$ 三 四 四 million) to the State budget in the first five months of  二0 二 二, surpassing the target by  九 二 per cent.

To take advantage of high oil prices in the world market, PVEP has taken measures to ensure stable and safe operations of its projects.

Output in May reached 0. 三 三 million tonnes of oil equivalent, surpassing  一 九 per cent of the monthly plan.

Thanks to the completion of exploitation targets, PVEP's revenue in the January - May period reached VNĐ 一 九. 九 九 trillion,  八 四 per cent higher than the goal.

In June, PVEP continued to prepare for the construction of drilled wells and maintained stable mining activities.

The firm has also implemented measures to improve oil recovery coefficient; optimise the exploitation of wells, and increase the exploitation flow of potential wells in order to ensure the oil and gas production output at home and abroad will reach 0. 八 一 million tonnes of oil equivalent in the second quarter. VNS