(VOVworld)- Deputy Prime Minister Hoang Trung Hai has asked the National Oil and Gas Group (PVN) to expand search, exploration and exploitation of oil and gas in 2016, saying that this is a key task of the sector in 2016.

Deputy Prime Minister Hoang Trung Hai asks PVN to expand search, exploration and exploitation of oil and gas in 2016

Speaking at the Group’s review conference in Hanoi on January 9, the Deputy Prime Minister said PVN needs to keep a close watch on market developments to give a reasonable forecast of oil prices for 2016, and following years, adding that the group should pay attention on cutting expense to optimise its operation: “It’s necessary to regulate the volume of oil exploitation and export to contribute to ensuring the GDP growth and budget collection targets. The group needs to work with the Ministry of Industry and Trade to develop the oil and gas sector development plans until 2025 and 2035 and strengthen coordination in defending national security”.