Vietnam to tap around 30m tonnes of crude
Nhandan.org.vn, July 22, 2003
Vietnam's oil and gas industry plans to extract between 30-32 million tonnes of crude equivalent and between 12-19 billion cubic metres of gas by 2010, meeting 60-70% of domestic demand for oil and gas products.
Officials forecast the demand for oil and gas products to jump from 12 million tonnes in 2005 to 17 million tonnes in 2010 and 26 million tonnes by 2020.
The industry has over the past five years exploited and exported 75.5 million tonnes of crude and brought ashore 7.96 billion cubic metres of associated gas, obtaining revenues of US $13.045 billion and US $35.090 billion, respectively, reported a two-day conference of the Oil and Gas Trade Union that ended in Hanoi on July 21.
In the first six months of this year, the industry tapped 8.92 million tonnes of crude and exported 8.74 million tonnes for nearly US $1.97 billion, year-on-year increases of 4.6% in crude output and 35.7% in export turnover. It also brought ashore 1.57 billion cubic metres of gas, a 43% year-on-year increase. (VNA)
