New Deputy Minister – Mr. Dang Hoang An had a working session with PVN

On June 5, 2018, in Hanoi, Deputy Minister of Industry and Trade – Mr. Dang Hoang An had a meeting with leaders of PVN on progress, as well as problems of the key oil and gas projects in Vietnam.

Delegation of the Ministry of Industry and Trade work with Petrovietnam.

Reported to the delegation of the Ministry of Industry and Trade, General Director Nguyen Vu Truong Son said in the first five months of 2018, the search and exploration of oil and gas continues to be implemented as planned, Bunga Pakma - PM3CAA oil field has been in operation since 12^th May 2018, 1 month 19 days earlier). Total output of crude oil in May has reached 2.1 million tons, surpassing 2% of the monthly plan, the whole 5 months has reached 10.44 million tons, exceeding 2.7% of 5 month plan and equal to 45.7% year plan.

Electricity production in May reached 2.08 billion kWh, exceeding 0.7% of the monthly plan, the total 5 months reached 9.8 billion kWh, exceeding 6.1% of the five-month plan. Fertilizer production in May reached 145.5 thousand tons, surpassing 7.6% of the monthly plan; five months the quantity is total 695 thousand tons, exceeding 5.2% of 5 month plan. Petroleum production in May has reached 650 thousand tons; the total quantity in the first five months reached 2.96 million tons, exceeding 2.6% of five month plan.

In terms of finance, total revenue in the first five months has reached VND234.5 trillion, exceeding 21% of five -month plan and 40% of the year plan. Total state budget payment for the whole five months has reached VND40.8 trillion, surpassing 32% of the five-month plan and equal to 55% of the year plan. Total consolidated tax profit in the first five months has reached VND9.8 trillion, exceeding 15% of five-month plan and equal to 51% of the year plan.

Deputy General Director Nguyen Quoc Thap said that two projects of Son My and Thi Vai LNG ports have been in process. Petrovietnam is urgently completing procedures with the Ministry of Industry and Trade and the Government to deploy the project in 2019 and 2020.

About the two projects of gas exploitation: Block B - O Mon and Blue Whale, currently the preparation of mining and development has been waiting for the decision to GGU approval of the Government so that the projects can catch up with the progress.

Deputy General Director Nguyen Hung Dung has reported on coal thermal power projects including Thai Binh 2, Long Phu, Song Hau. In particular, the Thai Binh 2 Thermal Power Project has completed all main items of the plant. With the determination and efforts of both the political system and units in Petrovietnam, the project is expected to complete the generator of Power Unit 1 in the first quarter of 2019 and Unit 2 in the second quarter of 2019.

Deputy Minister Dang Hoang An has also suggested reviewing PVN's production and business lines, improving Petrovietnam's restructuring plan, dealing with issues of business units losses. At the same time, PVN is urgently strengthening its personnel in the fields of finance, accounting, and further enhancing corporate governance.

In the coming time, Deputy Minister Dang Hoang An will work with the Vietnam Oil and Gas Group to work on each issue of each project with difficulty, thereby speeding up the progress of each project.