Vietnam exports more oil
HANOI - Vietnam tapped 17.1 million tons of crude oil and brought ashore 2.26 billion cubic meters of gas in 2002.
The industry exported nearly 16.9 million tons of crude oil last year for US$3.2 billion, a year-on-year increase of 3.2 percent. This brings Vietnam to third place in Southeast Asia in terms of crude-oil exploitation and exports.
The Vietnam-Russia Petroleum Enterprise, Vietsovpetro, the leading company in the oil and gas industry, recorded the highest outputs of 13.5 million tons of crude oil and 2 billion cubic meters of gas. In particular, Vietsovpetro tapped 100 million tons from the foundation layer of the Bach Ho (White Tiger) oilfield and discovered oil reservoirs in the Rong (Dragon) and Dai Hung (Big Bear) oilfields.
In 2002, the oil and gas industry found five more oilfields with additional reserves of 70 million tons. It cooperated with the BP group to install a 400-kilometer pipeline to bring ashore gas from the Nam Con Son oilfield.
It also conducted key projects including the Ca Mau and Nam Con Son gas-electricity-nitrogenous fertilizer complexes and the Dung Quat oil refinery. It signed two oil and gas exploitation contracts with Iraq and Algeria. This year, the industry plans to pump 20.86 million tons of crude oil and gas, export 17 million tons of crude oil and remit VND24.2 trillion ($1.57 billion) to the state budget.
Asia Times - January 07, 2003.
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