PetroVietnam production projection in 2001
Ha Noi, Jan. 18(VNA) -- The Viet Nam Oil and Gas Corporation (PetroVietnam) plans to pump 16 million tonnes of crude oil and bring ashore 1.8 billion cubic metres of gas in 2001.
PetroVietnam last year had pumped more than 16 million tonnes of crude oil, 5,000 tonnes more than 1999 and brought ashore 1.55 billion cubic metres of gas, including 1.2 billion cubic metres for the production of electricity.
As a result, the company earned almost USD 3.5 billion from the export of 15.4 million tonnes of crude oil.
PetroVietnam General Director, Nguyen Xuan Nham, says Viet Nam has pumped more than 100 million tonnes of crude oil since the first tonne was tapped at Bach Ho (White Tiger) oil field in 1986.
Oil and gas now account for 20 percent of the country's total export earnings.
Viet Nam has signed more than 40 contracts for exploring and exploiting oil and gas with foreign oil corporations. The value of the contracts totals almost USD 3 billion.
Almost one million cubic metres of associated gas is delivered daily from Bach Ho oilfield to Ba Ria electric power plant and a project to bring gas ashore from Lan Tay-Lan Do oilfield is underway.
The USD-1.3 billion Dzung Quat Oil Refinery No.1 with yearly capacity of 6.5 million tonnes is to be built been now and 2005.
A second oil refinery with yearly capacity of between 5-7 million tonnes is expected to be built at a cost of USD 1.8 billion in the following five years.
When operational, the plant will produce petro-chemical prducts such as synthetic fibre.--VNA
