09:49 | 14/10/2015 Industry
The Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro) extracted 33.6 million tonnes of oil in the period from 2010 to 2015, surpassing the five-year target by 3 percent.
Vietsovpetrol's oil rigs in Bach Ho oilfield (Photo: VNA)
The venture collected over 10 billion cubic metres of gas in the period, pumping onshore 2,494 cubic metres.
A number of new oil rigs have been commissioned to ensure smooth extraction and transport of crude oil.
Vietsovpetro has also built and upgraded a dozen of marine works to improve production efficiency while increasing the collection of gas to pump onshore and improving the monitoring system.
It plans to exploit 5.1 billion tonnes of crude oil and gross a total revenue of 3.9 billion USD this year.
In 2014, the venture pumped 5.36 million tonnes of crude oil, exceeding its annual target by 260,000 tonnes and generating 4.34 billion USD in revenue./.