National Oil and Gas Group to be prestigious business unit in many fields domestically and internationally

PM Nguyễn Tấn Dũng addressing the ceremony – Photo: VNGOVNet

In 2006, the Group gained an income of VND 180,000 billion, increasing by 17.5% against 2005 and accounting for 18% GDP of the whole country. The Group exploited 39 million tons of converted oil (30 million tons at home and 9 million abroad) and 7 billion cubic meters of gas. Up to now, the NOGG has signed 57 contracts on oil and gas exploration and exploitation worth of over US$ 7 billion.

In 2007, the Group will accelerate the construction of major works; further its investment and business cooperation with provinces, cities and economic corporations at home and abroad; and purchase stocks of some big groups, corporations and banks.

Lauding the NOGG’s great efforts in 2006, PM Nguyễn Tấn Dũng asserted that, in 2007, taking good chances and prospects, the Group should consistently and drastically implement all of its activities, from exploration, exploitation to refinery, distribution and oil services in national, regional and international scales. To ensure the energy balance for the economy, the Group should proactively and creatively seek, explore and exploit new oil fields. The PM ordered, “Vietnam’s Oil and Gas Sector should export crude oil so long. The NOGG must develop processing industry and services to gain more added values”. At the same time, the Group should pay attention to the collaboration with other domestic corporations in building high-tonnage oil tankers. PM Nguyễn Tấn Dũng also reminded the NOGG to effectively fulfill its organization and enterprise rearrangement, make use of opportunities to become a powerful and prestigious business unit at home and abroad./.

By Hoàng Nguyên Hồ