188bet vipz Solutions to oil and gas exploration and production in 2021- 2025 period
On 10th March in Ho Chi Minh City, Vietnam National Oil and Gas Group (Petrovietnam) held 188bet vipz Oil and Gas Exploration and Production Conference 2023 in order to implement 188bet vipz exploration and production plan in 2023 and solutions for 188bet vipz medium-term period (2023 - 2025) to successfully implement 188bet vipz plan to increase 188bet vipz reserves and production output for 188bet vipz period of 2021-2025.
Speaking at 188bet vipz opening of 188bet vipz Conference, Mr. Hoang Quoc Vuong - Petrovietnam Chairman of 188bet vipz Board of Directors emphasized: Oil and gas exploration and production has always been one of 188bet vipz core areas, making great contributions to 188bet vipz accomplishment of 188bet vipz development goals, plans and strategies of 188bet vipz Group in particular and 188bet vipz country in general. Therefore, investment in exploration and production has always been given top priority. Petrovietnam is always ready in terms of resources and potential to carry out drastic and breakthrough plans for exploration and production.
Overview of 188bet vipz Conference
2022 is a special year for 188bet vipz Oil and Gas industry, marking an important milestone in 188bet vipz field of Oil and Gas Exploration and Production with 188bet vipz National Assembly passing a new Petroleum Law on 14th November 2022 and taking effect from 1st July 2023. 188bet vipz Petroleum Law 2022 is a general legal framework for 188bet vipz Oil and Gas industry. It reduces 188bet vipz overlap between laws in 188bet vipz oil and gas activities, is a necessary legal basis for more efficient production of oil and gas resources, and contributes to increasing state budget revenue in 188bet vipz context of forecasting that many oil and gas fields in 188bet vipz final stage of life will switch to 188bet vipz full production period in 188bet vipz coming years.
In that context, 188bet vipz Oil and Gas Exploration and Production Conference 2023 was held with 188bet vipz main goal of implementing 188bet vipz oil and gas exploration and production plan 2023 and solutions for 188bet vipz medium-term period (from 2023 to 2025) to successfully implement 188bet vipz plan to increase reserves and production for 188bet vipz period of 2021-2025.
Mr. Hoang Quoc Vuong - Petrovietnam Chairman of 188bet vipz Board of Directors delivers speech to open 188bet vipz Conference
In 2022, 188bet vipz reserves increased to 16.97 million tons of oil equivalent; domestically produced crude oil reached 8.94 million tons, exceeding 27% of 188bet vipz plan; foreign produced crude oil reached 1.86 million tons, exceeding 9% of 188bet vipz plan; Gas export reached 8.08 billion m3, exceeding 7% compared to 2021; 188bet vipz decline in crude oil production both in 188bet vipz country and abroad was almost negligible compared to 2021, although in previous years, 188bet vipz reduction coefficient had always been around 10% a year. They were impressive results of Petrovietnam in 188bet vipz extremely difficult and complicated situation at 188bet vipz global scale in terms of geopolitics, energy and socio-economic transformation trend.
2023 is forecasted to be a difficult year, not only for 188bet vipz oil and gas sector but also for all economic sectors. Petrovietnam needs a lot of research and ideas from all experts in 188bet vipz field of exploration and production. With lessons to overcome difficulties in 188bet vipz years 2020 - 2021 as well as practical experiences successfully applied in 2022, and especially with 188bet vipz proposed solutions for 2023, Petrovietnam leaders believe 188bet vipz tasks set for 188bet vipz exploration and production sector in 2023 and 188bet vipz following periods will be completed as planned, contributing to 188bet vipz fulfillment of 188bet vipz Group’s overall production and business targets.
Petrovietnam President and CEO Le Manh Hung and Chairman of Vietnam Petroleum Association Nguyen Quoc Thap discuss at 188bet vipz Conference
Continuously in two sessions, reports were presented by 188bet vipz Group’s Divisions at 188bet vipz Conference: Oil and Gas Exploration and Production, Oil and Gas Contract Management; along with 188bet vipz reports by representatives of Vietsovpetro, PetroVietnam Exploration Production Corporation (PVEP), Rusvietpetro.
Representatives of 188bet vipz Group’s Divisions present reports on Petrovietnam’s plan for exploration and evaluation, plan for production and management of offshore investment
Mr. Tran Thanh Tung - Deputy Director General of Oil, Gas and Coal Department, Ministry of Industry and Trade speaks at 188bet vipz Conference
PVEP General Director Tran Hong Nam speaks at 188bet vipz Conference
Dr. Phan Ngoc Trung - Head of Advisory and Review Committee of Vietnam Petroleum Association speaks at 188bet vipz Conference
188bet vipz conference evaluated 188bet vipz results of exploration and production in 2022, exchanged and discussed a number of regulations on contract management, exploration and production development relating to 188bet vipz Petroleum Law 2022; activities in 188bet vipz oil and gas sector in 188bet vipz context of 188bet vipz Group’s energy transition, in line with Vietnam’s commitment to neutralizing CO2 by 2050 as well as contents related to domestic and foreign investment.
Representatives of 188bet vipz Group’s Divisions and subsidiaries exchange and discuss at 188bet vipz Conference
Also at 188bet vipz conference, some key contents were discussed and exchanged regarding 188bet vipz Exploration and Production Plan for 2023 and solutions to successfully implement 188bet vipz goal of increasing reserves as well as 188bet vipz production plan for 2021-2025 at 188bet vipz projects; 188bet vipz influence and impact of 188bet vipz Government’s mechanisms and policies on domestic oil and gas activities and 188bet vipz implementation of oil and gas projects abroad; as well as potential research in 188bet vipz field of exploration and production.
Petrovietnam Vice President Le Ngoc Son and heads of Divisions run 188bet vipz Conference
Dr. Nguyen Quoc Thap - Chairman of Vietnam Petroleum Association, said that in 188bet vipz past years, 188bet vipz exploration and production activities of Petrovietnam were at 188bet vipz peak stage and had not yet faced 188bet vipz problem of coping with 188bet vipz final life stage as present. Petrovietnam had to develop appropriate scenarios to receive fields with expired contracts or enter 188bet vipz stage of full production. Dr. Nguyen Quoc Thap affirmed that Vietnam Petroleum Association would always accompany Petrovietnam to continue to research technical solutions as well as continue to increase 188bet vipz operational efficiency of 188bet vipz projects, make 188bet vipz most of 188bet vipz country’s resources.
Dr. Nguyen Quoc Thap - Chairman of Vietnam Petroleum Association speaks at 188bet vipz Conference
As said by Petrovietnam President and CEO Le Manh Hung at 188bet vipz conference, in order to complete 188bet vipz plan for 188bet vipz 2021-2025 period, 188bet vipz E&P field must focus on short-term solutions and at 188bet vipz same time have specific strategy to implement long-term solutions, in terms of project management, as well as financial, investment, mechanism and policy solutions…
President and CEO Le Manh Hung especially emphasized solutions to managing portfolio of investment projects, list of contractors, blocks/ fields; promoting and ensuring synchronous progress of field development projects, especially key gas projects; actualize mechanisms and policies to enhance investment attraction; adjusting 188bet vipz conditions of signed oil and gas contracts to encourage contractors to develop small and marginal fields… In addition, 188bet vipz Group’s President and CEO paid attention to 188bet vipz solutions to enhancing high-quality human resources, applying scientific and technical advances, accelerating 188bet vipz process of digital transformation in management and administration.
Petrovietnam President & CEO Le Manh Hung delivers speech to direct 188bet vipz Conference
As affirmed by Deputy Minister of Industry and Trade Dang Hoang An at 188bet vipz conference, oil and gas is a large economic sector, playing an important role in socio-economic development, as well as contributing to ensuring national energy security and protecting 188bet vipz country’s sovereignty. In which, oil and gas exploration and production is 188bet vipz core activity in 188bet vipz core fields of Petrovietnam. In 188bet vipz past time, despite facing many difficulties and challenges, there has been development and remarkable results, making great contributions to 188bet vipz Group’s overall success. Deputy Minister of Industry and Trade commended all leaders and employees, those who work in 188bet vipz field of oil and gas exploration and production of Petrovietnam; at 188bet vipz same time, he emphasized a number of key tasks in 188bet vipz E&P field that Petrovietnam should focus on.
Deputy Minister of Industry and Trade Dang Hoang An speaks at 188bet vipz Conference
According to Petrovietnam Vice President Le Ngoc Son as concluding 188bet vipz conference, with specific exploration and production targets and plans developed for 188bet vipz period of 2021-2025, 188bet vipz pressure to 188bet vipz 2023-2025 period is huge for activities of increasing reserves, developing new projects; especially gas projects are not only related to exploration and production but also related to energy security and gas supply for 188bet vipz Southeast and Southwest regions.
Petrovietnam Vice President Le Ngoc Son affirms 188bet vipz E&P team will join hands and make efforts to over-fulfill 188bet vipz set targets, maintain production levels and increase reserves achieved in 2022
Regarding mid-term and long-term solutions, Petrovietnam will accelerate 188bet vipz implementation of work items for exploration and production, field development, and take into account 188bet vipz options for exploration and full production of existing areas; focus on 188bet vipz key gas project Block B in 188bet vipz immediate future, strive to achieve FID in 2023, as well as promote solving problems, put Ca Voi Xanh gas field into development as soon as possible; effort to coordinate with 188bet vipz drafting agency to complete 188bet vipz development of 188bet vipz Law guiding documents to create an open corridor, promote 188bet vipz advantages of 188bet vipz Petroleum Law 2022. For opinions exchanged at 188bet vipz Conference, 188bet vipz Group records, considers and adds to 188bet vipz implementation plan in 188bet vipz coming time.
Vice President Le Ngoc Son affirmed that, with 188bet vipz support of 188bet vipz Group, 188bet vipz E&P team would join hands and strive to over-fulfilled 188bet vipz set targets, maintain 188bet vipz level of production and reserve increase achieved in 2022.