Vietnam’s crude oil output for 2003 would rise 4.9 per cent from 2002 to 17.69 million tonnes, or 355,254 barrels per day (bpd), exceeding its annual target by more than three per cent, the government said.

In 2002, Vietnam said it aimed to produce 17.16 million tonnes of crude oil (344,610 bpd) and 3.7 billion cubic metres of natural gas in 2003, from 17.10 million tonnes and 2.17 billion cubic metres in 2002.
The government’s General Statistics Office estimated crude output in December at 1.57 million tonnes (371,229 bpd), up 2.8 per cent from December 2002.
Most of the extra crude came from the new Su Tu Den (Black Lion) field, which pumped its first oil in late October.

Output from the field is expected to increase to 95,000 bpd by June this year from 60,000 bpd at present, officials have said.
Crude shipment is traditionally Vietnam’s largest export earner.
The oil and gas sector, dominated by state monopoly PetroVietnam, contributed 24.83 trillion dong ($1.59 billion) to Vietnam’s industrial output in 2003, or 8.19 per cent of the total.