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2021 Results:
5.50

Crude oil
Million Tons

4.16

Gas exploited
Billion M3

9.49

Electricity
Billion KWhs

794.1

Fertilizer
Thousand Tons

3.36

Petroleum
Million Tons

55th Vietsovpetro Council Meeting: reach high consensus of two parties

On 8th December 2022, at Vietsovpetro Head Office (Vung Tau City), the official session of the 55th Vietsovpetro Council meeting was held, with the participation of the Council members from both sides. After 10 days of active and urgent work, the 55th meeting was successfully completed with the high consensus of the two Parties and the support of the two states of Vietnam and the Russian Federation.

Attending the meeting, on the side of Vietnam National Oil and Gas Group (Petrovietnam), there were President and CEO Le Manh Hung - Head of Vietnamese delegation, members of the Board of Directors, the Executive Management Board, and representative leaders of the Group’s Divisions. The head of Russian delegation, Mr. Kudryashov Sergey Ivanovich, General Director of AO Zarubezneft, chaired the Council meeting. On the side of Vietsovpetro, there were Mr. Nguyen Quynh Lam - General Director, Mr. Saraev Oleg Petrovich - Acting First Deputy General Director, and all leaders from the Divisions of the Head Office and member units of Vietsovpetro. 

Official session of the 55th Vietsovpetro Council Meeting 

At the meeting, Vietsovpetro General Director Nguyen Quynh Lam said that in 2022, Vietsovpetro for the first time overcame the decline in output, over-fulfilled the targets of increasing production, financial targets, completed construction and put the oil and gas projects into operation ahead of schedule, while ensuring the safety of production. 2022 is also the first year Vietsovpetro achieves an increase in reserves at 3,510 thousand tons, reaching 125% of the plan, which is a solid premise for the production plan in the coming years. This is a great and encouraging result from the excellent efforts of Vietsovpetro international labor team. 

In the context of complicated world economy due to rising material prices, supply shortage and disruption to the global supply chain, decisions in organization and management have been effectively promoted. Production-operation solutions applied flexibly and timely have significantly contributed to helping Vietsovpetro overcome difficulties and challenges and finished early. It is a clear proof that the Joint Venture is operating in the right direction.

Vietsovpetro General Director Nguyen Quynh Lam spoke at the meeting

On the occasion, General Director Nguyen Quynh Lam, on behalf of Vietsovpetro International Labor Team, thanked the Governments of the two countries, ministries, departments, branches, leaders of Petrovietnam, Zarubeznheft for always caring, directing, facilitating and supporting all aspects for Vietsovpetro to complete its tasks in the past time. Vietsovpetro General Director expressed his belief that, with the support and wise decisions of the Council members from both sides, Vietsovpetro would continue to fulfill and over-fulfilled the assigned tasks. 

Mr. Kudryashov Sergey Ivanovich, General Director of AO Zarubezneft spoke at the meeting

After 10 days of urgent and serious work, with effective cooperation and close coordination throughout the working process between the two Parties, leaders, officials of ministries, branches, Petrovietnam and Vietsovpetro’s leaders and staff, the 55th Vietsovpetro Council meeting ended successfully, with high consensus of the two Parties and the support of the two states of Vietnam - Russian Federation. At the end of the last session, the parties signed the document of the 55th Vietsovpetro Council meeting in the presence of invited guests and participants. 

Sign the document of the 55th Vietsovpetro Council meeting

In the agenda, Vietsovpetro Council also voted to approve the appointment of Vietsovpetro Chief Engineer. Accordingly, Mr. Le Viet Dzung would take over the position from 1st November 2022 (according to Decision No. 6191/QD-DKVN dated 27th October 2022 of Petrovietnam President and CEO).  

At the end of the meeting, Petrovietnam President and CEO Le Manh Hung said that in 2023 and the following years, in the context of potentially unstable world, challenging fluctuations for the oil and gas industry in general and Vietsovpetro in particular were still waiting ahead. Therefore, in order to maintain stable production output of each block/field in 2023 and the following years, Petrovietnam President and CEO requested Vietsovpetro to quickly deploy synchronous technical and organizational solutions, improve the organizational structure, apply scientific and technological solutions, initiatives to improve production rationalization, strengthen thrift practices, fight waste in all areas of operation, optimize production costs in order to improve the efficiency of the fields of operation, continue to develop sustainably to fulfill the production targets in 2023. 

Petrovietnam President and CEO Le Manh Hung delivered the closing speech at the meeting

President and CEO Le Manh Hung expressed his belief that, with a long tradition, accumulated experience of more than 40 years of construction and development, and the bravery of the leading unit in oil and gas exploration and production of Vietnam Oil and Gas industry, Vietsovpetro would overcome all difficulties and challenges, continue to develop sustainably and effectively, deserve to be a typical joint venture model, a common pride of Vietnam National Oil and Gas Group and Zarubeznheft. 

Vietnam National Oil and Gas Group committed to always stand side by side with Zarubezhneft under the close direction of the ministries/ sectors of the two countries Vietnam - Russia to remove difficulties and provide maximum support to Vietsovpetro for further development and success, efficient and stable operation, contribute to ensuring the country’s energy security and maximizing benefits for the Parties; focus on looking for opportunities to expand the area of operation

SUSTAINABLE DEVELOPMENT
BUSINESS