The PetroVietnam Exploration Production Corporation reported total revenue of nearly 1.45 billion USD in the first nine months of 2022, surpassing its yearly plan by 35%.
The firm’s pre-tax profit reached 877 million USD, and it contributed nearly 680 million USD to the State budget.
The firm recorded an oil equivalent output of 2.79 million tons during January – September, up 17% year-on-year, and equivalent to 88% of the plan set for the whole year. The company also completed the drilling of nine new wells in the period.
In the remaining months of 2022, it will focus on volatility management and market forecast, aiming to complete the production and business target assigned by the Oil and Gaꦫs group (PetroVietnam).
The corporation has raked in revenue of more than 1.2 billion USD over the course of five years from what have been dubbed Blocks 01 and 02 in in the Cuu Long basin. The blocks are located off the continental shelf of Vietnam, about 150km to the southeast of Vung Tau, a port city and the capital of the southern province of Ba Ria – Vung Tau./.
