PetroVietnam to pump oil from Uzbekistan
Vietnam's state oil and gas group, PetroVietnam, will pump oil from Uzbekistan as it moves to step up overseas exploitation activities.
“PetroVietnam has been effectively conducting exploration work and is preparing to exploit oil in Kossor,” said an online report. The Hanoi-based group's subsidiary PVEP has said it signed a contract to explore oil in Uzbekistan's Kossor block last year.
PetroVietnam plans to sign a contract with Uzbekistan's National Holding Co, Uzbekneftegaz, to explore the Bukhara and Khiva regions, the report said. As part of overseas oil production, PetroVietnam has been extracting crude oil from Malaysia's Block PM 304 and two fields in Russia's Nenetsky region, it said in a separate statement.
PetroVietnam has planned its 2012 crude oil output target at 317,500 bpd, up 4 % from 2011, largely due to increasing overseas production.