Trying to overcome the "double crisis", Petrovietnam reached the finish line with 3 important targets

On December 10, at the headquarters of Vietnam Oil and Gas Group (Petrovietnam) held a ceremony to congratulate the departments / units on the early finishes 3 important targets in production and business activities in 2020 is to increase reserves. oil and gas, crude oil exploitation and protein production of the whole Group are from 1 to 6 months.

Attending and congratulating Petrovietnam were Mr. Tran Sy Thanh, Member of the Party Central Committee, Vice Chairman of the Office of the National Assembly; Mr. Dang Hoang An, Deputy Minister of Industry and Trade; On the side of Petrovietnam, there were Mr. Hoang Quoc Vuong, Secretary of the Party Committee, Chairman of the Board of Members; Mr. Le Manh Hung, General Director of the Group and leaders of the Group and member units.

Trying to overcome the "double crisis", Petrovietnam reached the finish line with 3 important targets early.

In 2020, overcoming the obstacles caused by the Covid-19 epidemic and declining oil prices, the Board of Directors has directed to improve the quality of research, search and evaluate, and select potential customers to optimize the taste. drilling wells location, geological risk reduction, construction ... Petrovietnam's search and exploration have obtained very positive results, with the discovery of oil and gas reserves at the Ken Bau-2X field located in Lot 114 (reaching over 11.86 million tons equivalent), along with a number of other findings have helped the Group's 2020 reserve increase target "to the destination" right from the beginning of June 2020. At the same time, this result has been helping the coefficient increase in reserves offset against the mining output in 2020 at 0.8 times. This is the highest factor in the increase in reserves to offset the highest exploitation output of Petrovietnam since 2015.

Petrovietnam's oil and gas exploitation has been optimized at a level suitable to technical conditions; minimizing reduction, maintaining operating costs ... leading to the Group's crude oil production reaching the target 25 days in advance (reaching 10.62 million tons on December 5, 2020). It is expected that for the whole year, the domestic oil exploitation output will reach 9.65 million tons, exceeding 9.25%; oil production abroad reached 1.82 million tons, exceeding 1.31%; Total output of domestic and foreign crude oil is estimated at 11.47 million tons, exceeding 7.9%.

Vietsovpetro workers overcome the waves of construction and lower the base of the rig.

Besides, on November 13, the Group's nitrogen production target reached 1,562 million tons, completing the plan for the whole year before October 1. In particular, Ca Mau Fertilizer Plant has excellent "finish" 51 days before the plan to produce 800 thousand tons of urea in 2020. Specifically, at 5 am on 11/11/2020, the plant has reached 800 thousand tons of urea production milestone, completed the 2020 production plan. Along with Ca Mau Fertilizer Plant, Phu My Fertilizer Plant also excelled "on target" 36 days ahead of production plan 785. thousand tons of urea by 2020 at 7 o'clock on November 25, 2020.

Product packaging line of Ca Mau Fertilizer.

Entering the year 2021, the Group is forecasted to continue to face many difficulties and challenges, Petrovietnam Chairman Hoang Quoc Vuong believes that with the solidarity, consensus and efforts of the collective leaders and staff. Ministries and employees of the whole Group will overcome difficulties and complete the planned targets of the year 2021.