Afternoon December 11, Vietsovpetro Joint Venture (VSP) formally organized the ceremony to receive the Gold Star Medal awarded by the Vietnamese Party and State.

In 29 years, VSP has achieved many great achievements, made important contributions to the stability and economic development of Vietnam, and brought significant revenues to the State of the Russian Federation. Total sales of crude oil reached US$ 50 billion, payment to the State budget and profits from Vietnam side were above US$33 billion, profits on the Russian side was US$ 8.5 billion. In particular, VSP is the first in the world petroleum industry discovered and exploited oil in fractured basement reservoir, contributing significantly to increase oil production to Vietnam. In 29 years, VSP has contributed more than US$ 32 million for charitable and social activities, involved in construction of infrastructure and social welfare projects in Ba Ria-Vung Tau and several locals of the country.

In the period 2011 - 2015, VSP will focus on stepping up the exploration and exploitation in deep water, offshore to increase the oil reserves; Positively researching, seeking for opportunities to expand the exploration and exploitation in Russia, the republics of the former Soviet Union and third countries; enhancing research, application of technology and equipment to build a suitable system for gas and condensate production in the deepwater fields... and striving to achieve the exchanged total production of 35.6 million tons.

Acknowledge the VSP’s contribution, the Party and State have decided to reward the VSP collective staff, workers the Gold Star Medal. On this occasion, the Government of Vietnam awarded 10 Medals of Labor in all kinds of classes for 2 teams and 8 individuals of VSP; Friendship Medal for 7 Russian experts who have made many contributions in cooperation in the oil and gas exploration and exploration. The State of the Russian Federation also awarded the Friendship Medal and medals for 14 Vietnamese officers and engineers who have made significant contributions to the development of VSP and built solidarity and friendship between the two countries.

In the morning December 11, VSP inaugurated the petroleum monument at the roundabout Nguyen An Ninh - Binh Gia – Thong Nhat and handed over to Ba Ria - Vung Tau management. Speaking at the inauguration ceremony, Mr. Tran Minh Sanh, BR-VT People’s Committee’s Chairman stressed that the petroleum monument was built in Vung Tau City to honor the achievements of VSP in particular, oil and gas industry in general have achieved over time. Besides, the monument was a picture depicting VSP image in the process of formation and development of cooperation relations between Vietnam and the former Soviet Union, Russian Federation today, as well as the close relationship between VSP and Ba Ria - Vung Tau.

In the same day, the VSP traditional room was also opened to introduce pictures, souvenirs through the ways of construction, maturity and development of VSP.

(baobariavungtau.com.vn)