Vietsovpetro to tap 7.65 million tonnes of crude oil in 2008

The Vietnam-Russia oil and gas joint venture (Vietsovpetro) is striving to tap 7.65 million tonnes of crude oil in 2008, 550,000 tonnes more than its yearly plan.

The target was announced at a ceremony held in the southern province of Ba Ria-Vung Tau on July 24.

To reach the target, the joint venture plans to raise its output by putting four more wells into operation and fix the Ba Vi oil tanker so it resumes operation.

So far, Vietsovpetro has pumped nearly 174 million tonnes of crude oil and brought ashore 19 billion cu. m of associated gas, earning a revenue of 42.1 billion USD and contributing 26.73 billion USD to the State budget.