Vietsovpetro sets crude oil goal for 2015

Thursday, Jan 15, 2015 09:30

VNA/VNS Photo Huy Hung

HA NOI (Biz Hub) — The Viet Nam-Russia Oil and Gas Joint Venture (Vietsovpetro) has set a production plan of exploit 5.1 billion tonnes of crude oil in 2015, grossing a total revenue of US$3.9 billion.

To realise this target, Vietsovpetro will work to drastically curtail costs by limiting the leasing of ships, helicopters and oilrigs and increasing their organisation capacity, said Tu Thanh Nghia, General Director of Vietsovpetro.

The venture will push up the installation of underground cable and transformer stations providing electricity to further reduce costs.

In addition, it will enhance scientific and technological application and encourage technical innovations to improve the efficiency of production activities.— VNS

Comments (0)