PVN has completed its petroleum production plan of 2019 21 days in advance

As of December 10, 2019, the Vietnam Oil and Gas Group (PVN) has produced 12.36 million tons of petroleum, officially completing the 2019 petroleum production plan before 21 days.

The difficulties and challenges both in domestic and international have had a great impact on the achievement of PVN's targets and tasks in 2019. However, PVN's activities have always received close attention and guidance of the Party and Government, the positive support of the Ministries, Departments / Branches, the related organizations and localities. In particular, the Group's organizational has been structured, reducing intermediaries, professionalism and discipline have been re-established, corporate governance has been improved; the member units have actively expanded markets to countries in the region.

With a high determination in direction and administration, PVN has overcome challenges and achieved the target at the soonest.

Specifically, PVN has completed its whole year plan before April 2, important targets, including: increasing oil and gas reserves; total revenue of the Group; submit to the State budget the whole Group and the Group's consolidated profit after tax.

By December 10, 2019, PVN has completed domestic petroleum production reaching 10.43 million tons, officially reaching the total oil production in 2019 of 12.36 million tons, reaching the goal 21 days ahead of schedule assigned by the Government.

It is expected that on December 12, PVN will complete the gas exploitation target with 9.69 billion m3 of gas and on December 13, it will complete the target of overseas oil exploitation with 1.93 million tons of oil. With such achievements, it is expected that by the end of 2019, PVN will exploit 13.08 million tons of oil, reaching 105% of the year plan. Gas exploitation is estimated at 10.22 billion m3, reaching 105% of the year plan.

This is the result of the efforts of overcoming difficulties and solidarity of leaders, cadres and employees in the whole Group to complete the tasks and plans assigned by the Party, the Government and it is the creating motivation for the Group to confidently enter the task of 2020.