PetroVietnam signs deals with Uzbeks

The Viet Nam National Oil and Gas Group (PetroVietnam) announced it had signed three new contracts at a press conference in Ha Noi yesterday, February 4.

The contracts included two oil and gas exploration and extraction deals at Block 105-110 and Block 04-2, and another at Kossor in Uzbekistan.

The group reported a total revenue of nearly VND27 trillion (US$1.5 billion) in January, up 36 per cent against the same period last year.

Of this, $730 million came from crude oil exports. The average sale price of oil was $80.5 per barrel, representing an increase of $38 over last year.

Taxes, which the Group paid in January, also climbed to VND8.7 trillion, a year-on-year increase of 46 per cent.

Over the previous year, PetroVietnam churned out 1.2 million tonnes of crude oil, 770 million cu.m of gas, 60,000 tonnes of fertiliser, 940 million KWh of electricity and 276,000 tonnes of petrol products.

Construction of the two oil rigs, BK-14 and BK-15, is currently underway in southern Ba Ria – Vung Tau Province. The total investment capital has been reported at $550 million.

The Group expects a revenue of VND24 trillion in February and a further payment of VND7 trillion in tax to the State.

In February, the Group plans to produce 1.13 million tonnes of crude oil, 620 million cu.m of gas, 60,000 tonnes of fertiliser, 760 million KWh and 330,000 tonnes of petrol products.

VietNamNet/Viet Nam News

Tags: PetroVietnam, Vietnam oil and gas sector