That figure has been announced by Vietnam National Oil and Gas Group in the report on investment and development of the Group during the period of 5 years, from 2006 to 2010.

Accordingly, in the period of 2011-2015, Vietnam National Oil and Gas Group will exploit 15-20 more mines, increasing reserves to 35-45 million tons per year, exploitation output of oil to 23 -34 million tons per year and of gas to 8.5 to 14 billion m3 per year, ensuring the requirements for energy and national energy security.

In the past five years, Vietnam National Oil and Gas Group has invested in 59 projects, including 56 petroleum projects (38 domestic projects and 18 projects in foreign countries). Particularly, the excavation of oil and gas has been implemented effectively at 15 domestic and foreign oil fields, and the mining output has reached 117.41 million tons. The Group has also implemented the work of development at 16 domestic and foreign mines.

Particularly, Dung Quat oil refinery has been put into operation and met 30% of the demand for gasoline consumption in the country and contributed significantly to economic growth of Quang Ngai province as well as promoting socio-economic development in Central provinces.

By Minh Duc