Vietsovpetro set to produce over 2.9 mln tonnes of oil equivalent
The Vietnam – Russia oil and gas joint venture Vietsovpetro aims to exploit over 2.9 million tonnes of oil equivalent and 65.4 million cu.m of natural gas next year, according to the company.
The venture also aims to generate more than US$1.3 billion in revenue from oil sales and nearly US$190 million in profit while contributing US$679 million to the State budget in 2022.
Ending 2021, Vietsovpetro’s oil output exceeded 3.16 million tonnes and natural gas output reached 82.3 million cu.m, surpassing the yearly plan by 5.5% and 7.4%, respectively.
Its oil and gas sales hit over US$1.68 billion while profit totaled US$282,5 million, 50% and 73%, respectively, higher than the plan. It contributed nearly US$922 million to the State budget, US$317 million higher than the goal, or 53.4%. Profit for both sides was US$282.5 million, equal to 173% of the set target.