Vietnam: PVN has finished 2016 exploiting plan

Vietnam: PVN has finished 2016 exploiting plan

On December 28, 2016, PVN implemented exploitation of 15,02 million ton of
crude oil to remark finishing it's 2016 exploiting plan.

Previously, on November 29, 2016, PVN already finished gas exploiting target
with 9.608 billion m3

2016 is the consecutive eighth year PVN exceed the exploiting plan with
total production of 27.73 million ton of equivalent oil, among which
exceeded production to year plan of oil as 7.3%, gas as 9.7%.

To achieve this success in situations when the world market oil prices
mournfully fell (44$/barrel), all of PVN fields had to maximally cut the
costs and even some of them ware likely to stop exploitation, PVN had
outstanding efforts for directing its units to mobilize all means and
manpower, realize all solutions to finish and exceed petroleum exploiting
plan.

The active and timely solutions PVN already took to ensure the productions
at 30 domestic fields as to carry out the measures for increasing equipment
operation factor, oil recovery ratio; and activities of equipment
maintenance and repair; and to put into operation two new projects as Thien
Ung field and RC-9 drilling rig.

Besides, in 2016 PVN also implemented well activities for management and
optimal exploitation of the fields, and for shortening repair and
maintenance process at the projects; and as well as received the timely
support from management agencies in assessing and approving additional works
that contributed to production increase.

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Link to Original Article:
http://nangluongvietnam.vn/news/en/oil-and-gas/pvn-has-finished-2016-exploit
ing-plan.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com