Oil and gas sector reviews 2010 activities

The Vietnam National Oil and Gas Group on January 27 held a conference to review its 2010 activities and implement tasks for 2011 in the presence of President Nguyen Minh Triet.

In 2010, the group earned a record revenue of more than VND478 trillion, 59 percent more than in 2009 and contributed nearly VND128 trillion to the State budget, up 41 percent and accounting for one thirds of the State budget’s revenues.

This year, the group will strive to earn VND486 trillion in revenue and exploited 23.2 million tonnes of oil. To reach this goal, it will accelerate the implementation of exploration projects both at home and abroad, find ways of attracting more foreign investment and ensure the smooth operation of the Dung Quat oil refinery.

In his address, President Triet praised the group for its contributions to the state budget and the accomplishments in its business area and increasing its operational efficiency in other fields such as fertiliser and electricity and mining projects in other countries.

Mr Triet attributed the achievements to both the Party and State’s leadership and the group’s tireless efforts.

“Oil and gas is a key economic sector. Therefore, the Vietnam National Oil and Gas Group need to bring its achievements and experience into full play to make greater contributions to the country,” said Mr Triet.

At the conference, the Government Prime Minister’ Decision was announced to establish the Vietnam Oil and Gas University in Vinh Yen, Vinh Phuc province.

The first special public university invested in by the Vietnam National Oil and Gas Group aims to train professional human resources to promote the oil and gas sector’s future growth. – VOV

Tags: Vietnam oil and gas industry