(VOVworld) – President Truong Tan Sang has praised the fast growth of the Vietnam Oil and Gas Group, PVN, especially its activities overseas.

Photo : baocongthuong.com.vn

In a New Year greeting visit in Hanoi on Thursday to the group, Mr. Sang said that last year more than 50,000 PVN staff contributed to national economic development and fulfilled other tasks of national defense and diplomacy. He urged the group to develop further and efficiently, become a backbone of the national economy, and match the biggest oil and gas groups in ASEAN by 2020.

PVN is a leading state-owned enterprise in energy exploration. Last year, it achieved economic growth of 20% and increased its state budget contribution 15%. It has expanded production and trading in Asia, Africa, and Latin America with an output of 1.1 million tons of oil and gas overseas.