Vietnam Oil Reserves Enough for Production in Next Three Decades
Vietnam’s current estimated oil reserves are sufficient for the domestic production for next three decades, said Chairman of the state-owned Vietnam Oil and Gas Group (PetroVietnam) Dinh La Thang.
The country has not been able to explore all its oil resources to make precise data on recoverable reserves, the Tien phong newspaper reported on January 25, citing Thang.
PetroVietnam had raised its oil equivalent reserves by 24.31 million tons last year, up 8% from a year earlier.
The group produced 16.3 million tons of crude oil and eight billion cubic meters of natural gas in 2009.
The group plans to increase its oil equivalent reserve by between 35 million tons and 40 million tons this year.
It targets to produce 15 million tons of crude oil and eight billion cubic meters of natural gas in 2010. (Pioneer)
Tags: Vietnam oil, Vietnam Oil Reserves
Posted by VBN on Jan 27 2010. 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
Subscribe via Email 
Subscribe in a Reader 
Follow us on Twitter 
Connect on Facebook
China Business News