PetroVietnam targets more than 3tr dong revenue in 2015

For 2011-2015, Vietnam National Oil and Gas Group (PetroVietnam-PVN) targets to reach average growth of 18-20 percent per year with key development structure in the fields of studying, exploring, exploiting and processing for oil and gas.

The group’s total revenue during 2011-15 would be 3.04 trillion dong, revenue from oil and gas services would account for 35-40 percent of the total revenue.

PVN also plans to pay 650 trillion dong to the state budget and the return on its chartered capital at 20-25 percent per year.

The total oil and gas output during 2011-15 is expected at 142 million tones, including 90 million tones of oil and 52 billion cubic meters of gas and power output at 108 billion kWh. The group also expects to keep the oil reserve at 35-45 million tones per year.

PVN’s investment target is to still focus on its core sectors including the exploration, mining, petrochemical, power production, nitrogen from gas and oil and gas engineering services.

In addition, PVN will increase socialization to attract other investments into the group’s non-core sector to support the core areas for the development together. – Vietbiz24

Posted by VBN on May 23 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry