Ceremony for official announcement on the new PetroVietnam Chairman of the Board of Directors

On the morning of 3^rd January 2018, PetroVietnam announced the appointment of the new Secretary of the Party and Chairman of the Board of Directors with the attendance of Prime Minister Nguyen Xuan Phuc

The ceremony was held at 7 online points including Hanoi, Ho Chi Minh City, Quang Ngai, Vung Tau, Soc Trang, Hau Giang, Ca Mau.

Prime Minister Nguyen Xuan Phuc spoke at the ceremoy.

At the ceremony, Mr. Nguyen Duy Thang – Deputy Minister of Home Affairs, Mr. Hoang Giang – Head of Central Organizing Commission of Party Committee of the Stated Businesses’ Sector officially announced the decisions of appointing Mr. Tran Sy Thanh, Central Committee of the Communist Party of Vietnam, former Lang Son Secretary to hold the position of Chairman of PetroVietnam Board of Directors and Secretary of PetroVietnam Party Committee in the period from 2015-2020

Speaking at the ceremony, Prime Minister Nguyen Xuan Phuc praised and appreciated the efforts and results that Petrovietnam achieved in 2017 when the group had many difficulties, both internal and external, from the fluctuations of global oil price to territorial disputes in East Sea or economic mismanagement of some PetroVietnam leaders

Secretary of Central Organizing Commission of Party Committee of the Stated Businesses’ Sector – Pham Viet Thanh presented the Decision of Secretary of PetroVietnam Party Committee in the period of 2015-2020 to Mr. Tran Sy Thanh

CEO and President of PVN Nguyen Vu Truong Son gave flowers to the New Chairman – Tran Sy Thanh

Tran Sy Thanh – Chairman of PetroVietnam Board of Directors spoke at the ceremony

Chairman Tran Sy Thanh expressed honor and deep awareness of personal responsibilityof how to complete the tasks assigned

Prime Minister and other leaders of the Party committees, ministries and central branches congratulated PetroVietnam on exceeding the plan for oil and gas exploitation in 2017

Following the announcement of the decision, Prime Minister Nguyen Xuan Phuc and leaders of Party committees, ministries and central agencies attended the ceremony to celebrate the completion of the plan for oil and gas exploitation in 2017 of PetroVietnam.

Specifically, PetroVietnam (PVN) has successfully completed many targets and tasks assigned in 2017. Domestic oil exploitation exceeded 10.5% of the plan (exceeding 1.29 million tons - equivalent to over 0.32% of GDP); gas exploitation exceeded 3.0% of the plan; electricity production exceeded 2.4% of the plan; Petroleum production from Dung Quat Refinery exceeded 19.5% of the plan; Total turnover exceeded 13.8% of the plan (up 10.1% compared to 2016); State budget contribution exceeded 30.8% of the plan (equivalent to over 22.9 trillion VND, up 8% compared to 2016); consolidated profit after tax was VND 31.9 trillion, capital adequacy ratio was 1.02 times - ensuring safety and capital development