PetroVietnam starts mining at four new oilfields
Source: 10-OCT-2008 Intellasia | Hanoi Moi
Oct 10, 2008 - 7:00:00 AM Vietnam National Oil and Gas Group (PetroVietnam) reported that in Jan-Sep, the group started mining on four new oilfields namely Yellow Fin Tuna (Ca Nga Vang on July 25), Orient (on August 24), Bunga Orkid gas field (on July 29) and Yellow Lion (September 30).

In general, total mining output of PetroVietnam has reached 16.33 million tonnes of convertible oil, achieving 97% of the period's plan and 70% of the year's target. The group also exported 10.43 million tonnes of crude oil.

In the period, gas pipe systems of Rang Dong-Bach Ho-Phu My, Nam Con Son, PM3-Ca Mau supplied 5.2 billion cubic metres of dry gas, 50,000 tonnes of condensate and 189,000 tonnes of LPG to the domestic households.

Last month, Drilling Mud Joint Stock Corp, a subsidiary of PetroVietnam put the CNG producing factory into operation (using gas materials mined from White Tiger oilfield) with the capacity of supplying 30 million cubic metres of CNG a year.

During the first nine months of this year, the group earned 222.900 trillion dong in revenue, a surge of 56% year-on-year, 93.9 trillion dong in taxes and US$9.097 billion from exports. The price of crude oil averaged US$872 a tonne or approximately US$16 a barrel.