PetroVietnam reports 2 new oil, gas discoveries to prime minister

Vietnamese state energy group PetroVietnam (PVN) on Monday reported its achievements in 2023, including two new oil and gas discoveries, to Prime Minister Pham Minh Chinh. PVN also reported that it had successfully completed construction and commenced operations at four oil and gas projects ahead of schedule. Its oil exploitation output in 2023 reached 10.41 million metric tons, surpassing the year’s plan by 12.1 percent, with domestic production alone reaching 8.63 million metric tons, representing a 3.9-percent decrease compared to 2022. The firm increased oil and gas reserves to 13 million metric tons in 2023, surpassing the year’s targets by 8.3 percent. Its fertilizer plants produced 1.76 million metric tons in 2023.