Ba Ria-Vung Tau (VNA) –The Vietnam-Russia oil and gas joint venture Vietsovpetro posted total revenuesof more than 950 million USD from the sales of oil, gas and condensate in thefirst six months of this year, contributing 452.4 million USD to the Statebudget.

The Vietnamese side received 95million USD in profit in the period and the Russian side, 129.4 million USD, itwas reported at the 51st meeting of the Russia-Vietnam JointCommittee in the southern coastal province of Ba Ria-Vung Tau on July 11.

The meeting was attended byofficials from related ministries and agencies of Vietnam and Russia, the RussianConsul General in Ho Chi Minh City, and representatives from Russia’sState-owned oil group Zarubezhneft and the Vietnam National Oil and Gas Group.

Vietsovpetro General DirectorNguyen Quynh Lam said the corporation over-fulfilled most key targets,including oil, gas and condensate exploitation, gas transportation to land, installationand reparation of sea structures, revenues, contributions to Vietnam’s Statebudget and profits of both sides.

Specifically, Vietsovpetropumped more than 1.92 million tonnes of oil and condensate, surpassing the targetby 8 percent, and 75 million cubic metres of natural gas, equivalent to 121percent of target, while transporting more than 534 million cubic metres ofgas, more than double the plan.-VNA