PVN's oil output hits 10.7 million tons in H1
(VOVWORLD) - Vietnam Oil and Gas Group (PVN) said that in the first half of this year, the total oil output of the Group reached 10.7 million tons, 4% higher than plan for the first half of the year and 53% of the whole year plan.
For the first time since 2016, PVN's oil reserves (the ratio between reserve increase and output) has reached 1.19 times, a safe level for the Group’s sustainable development. The oil and gas reserves in the first 6 months jumped to 11.7 million tons of oil equivalent, fulfilling the yearly plan.
According to PVN General Director Le Manh Hung, the oil and gas exploration and production activities were carried out according to the plan, while gas exploitation activities were optimized at an appropriate level.