Speaking at the PVN Party Congress on July 23, Mr Manh pointed out that the sector must develop sustainably to ensure Vietnam’s future energy security.

The PVN’s Party Committee has 9,000 members out of its 40,000 workers. The 2006-2010 period saw the strongest growth of PVN as it transformed from corporation to group. Its revenues increase by an average of 22 percent per year, equaling 18-20 percent of the country’s GDP. The group opened an additional 14 oil fields with a combined crude oil volume of 80 million tonnes and gas volume of 38 billion cu.m.

In February, 2009, the group fulfilled its promise to put the Dung Quat Oil Refinery Plant into operation, making a turning point in its development.

The group has set one record after another for oil and gas contracts, extraction and supply of gas, electricity generation, services growth, investment, and social welfare.

Party leader Manh praised PVN’s achievements and said its trademark and image are shinning brightly both at home and abroad.

He agreed with PVN’s orientation to help regulate the macroeconomy, maintain rapid growth to create big revenue for the State budget, actively implement social welfare, ensure food and energy security, and get involved in national security and maritime defence.

Mr Manh said oil and gas is unrenewable energy so PVN should continue with exploration and exploitation, both at home and abroad in cooperation with Russia. 

To solve difficult problems, the sector need to focus on developing its human resources, its scientific and technological capacity, and its management ability, Mr Manh said.