Vietnam National Oil and Gas Company (PetroVietnam) has announced completion of 49 projects during the last 10 years.
PetroVietnam held a conference yesterday summarizing the company’s 10 years of innovation and development (2001-2011) and five years as a model corporation (2006-2011).
PetroVietnam has within the past ten years, become the country’s leading economic group and is striving to equal other regional and global oil and gas giants. The company has an impressive annual growth rate of 20 per cent and makes up 20 per cent of the country’s GDP and 28-30 per cent of the total State income.
PetroVietnam is carrying out 22 investment and cooperation contracts in 13 countries, besides the existing 49 projects that are underway in countries around the world.
Nguyen Tien Dung, deputy general director of PetroVietnam, said that the group is striving to become a strong economic conglomerate in the region, with an annual growth of 18-20 percent until 2015.
He emphasized that PVN is focused on developing human resource, science, technology and management to spearhead the economy and contribute towards the national industrialization and modernization process.