Vietnam oil reserves update

Vietnam’s current level of recoverable reserves of crude oil and gas are enough for another three decades of production.

The press release is quoted as saying:

Petrovietnam has said that, excluding reserves at foreign oil fields, it added 34 million metric tons of crude oil and gas equivalent last year to recoverable reserves, which stood at 127 million metric tons at the start of 2009.The group said it projected adding between 35 million and 40 million metric tons of crude oil equivalent to its reserves this year, stepping up exploration abroad to meet rising domestic energy demand.

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