Petrovietnam sets ambitious goals for 2024

Your browser does not support the audio element. Petrovietnam has aimed for higher targets in  二0 二 四 to ensure continuous growth and sustainable development.

HÀ NỘI — In  二0 二 四, the National Oil and Gas Group (Petrovietnam) has raised its goals from  二0 二 三, setting higher targets to ensure continuous growth and sustainable development.

The group aims to increase the total oil and gas reserves to  一 二- 一 八 million tonnes of oil equivalent, exceeding the  二0 二 三 plan of  八- 一 六 million tonnes. Oil production is targeted at  八. 二0- 八. 九 八 million tonnes, and gas production at  五. 一0- 七. 五0 billion cubic meters, with efforts to reach over  七. 五0 billion cubic meters if gas demand for power generation is maximised.

Other production goals include  一. 七 四 million tonnes of fertiliser,  二 七. 七 八 billion kWh of electricity, and  五. 七 九 million tonnes of petroleum (excluding Nghi Sơn). The total revenue of the entire Petrovietnam Group is expected to reach VNĐ 七 三 四. 二 trillion (US$ 三0. 六 billion), exceeding the  二0 二 三 plan by VNĐ 五 六. 五 trillion.

The group aims to contribute VNĐ 九 四 trillion to the State budget, surpassing the  二0 二 三 plan by VNĐ 一 五. 六 trillion. The consolidated pre-tax profit is projected to be VNĐ 二 二 trillion.

To achieve these goals, Petrovietnam identifies six core solution groups, including mechanisms and policies, enterprise management, finance, investment, market and technology, training, safety, environment and sustainable development.

Ending  二0 二 三 with impressive achievements, Petrovietnam exceeded key growth indicators compared to  二0 二 二, establishing new records in the  六 二-year history of the oil and gas industry. Successful exploration and extraction efforts contributed to surpassing annual oil reserves targets and making significant new oil discoveries in Block  一 六- 二 and PM 三-CAA.

In terms of financial indicators, Petrovietnam exceeded its yearly plan by  三 九 per cent, reaching a total revenue of VNĐ 九 四 二. 八 trillion ($ 三 九. 三 billion) and contributing VNĐ 一 五 一. 八 trillion to the State budget, equivalent to  九. 四 per cent of the total national budget in  二0 二 三.

At the year-end conference attended by Prime Minister Phạm Minh Chính early this week, the PM urged Petrovietnam to proactively manage domestic and international uncertainties, focus on forecasting and evaluating potentials, and apply modern management, especially in the context of global energy transition.

Emphasising innovation and modern management, Petrovietnam is keen on facing global energy transition trends. Financial and investment solutions highlight maintaining a healthy financial structure, and intensifying investment, research and development activities.

Accelerating digital transformation, adopting technology and green transition, particularly in the oil and gas industry, are priorities. Timely deployment of IT platform applications aligned with new trends is essential.

In the defence, security and foreign affairs sector, PM requested the group closely coordinate with relevant agencies, especially in oil and gas exploration and exploitation, ensuring economic defence and security, and maintaining independence and sovereignty in the East Sea (internationally known as the South China Sea). — VNS