PV GAS implements emulation movements in the quarter I/2014

PV Gas is carrying out QI/2014 plan in the context of difficult global and domestic economic conditions hindering activities of domestic enterprises. However, by making good use of advantages, promoting full strength of the whole political system of PV GAS along with high determination and close instructions and administration from the leadership, effort and solidarity from all employees, PV GAS has fulfilled and exceeded most of the targets in this quarter, including many targets rising higher than the same period in 2013, setting the good momentum for implementation of the next quarter plan.

Total employees of the Parent company as at the report are 1,113 persons (Total employees of PV Gas are 3411 persons), including 80% of male, 20% of female, and employees holding university degrees or above account for over 60%.
Results on key targets achieved in the first quarter are as follows:
- Production and consumption: dry gas production and supply reached 2,532 million m3, equivalent to 103% of the quarter plan; Condensate reached 16,081 tons, equivalent to 133% of the plan; LPG reached 226,626 tons, equivalent to 122% of the plan (If including subsidiaries after subtracting the overlapping outputs, LPG output supplied by PV Gas reached 285,670 tons).
- Achieving 15,618 billion VND in revenues, equivalent to 110% of the quarter plan. In that amount, the Parent company achieved 13,832 billion VND, equivalent to 112% of the quarter plan.
- Achieving 3,508 billion VND in pre-tax profits, equivalent to 129% of the quarter plan. In that amount, the parent company achieved 3,459 billion VND, equivalent to 130% of the quarter plan.
- Achieving 2,877 billion VND in net profits, equivalent to 129% of the quarter plan. In that amount, the Parent company achieved 2,836 billion VND, equivalent to 130% of the quarter plan.
- Achieving 1,137 billion VND in State budget contribution, equivalent to 106% of the quarter plan. In that amount, the Parent company achieved 1,115 billion VND, equivalent to 106% of the quarter plan.
Production and business facilities has safely operated, allowing no occurence of serious incidents affecting people, property as well as reputation of PV Gas. PV Gas has also held successfully the conference on Safety – Health – Environment; coordinated with the agencies, local authorities in inspection to ensure security, safety, fire control at gas works during Holidays and Lunar new year; summarizing 01 year’s implementation of the Regulation on coordinating safety and security of gas works with the Public security of Long Dien District – BRVT; coordinating with Ca Mau Province Public security to hold drills on terrorism prevention, fire fighting and salvage, rescue for Ca Mau gas works; working with PC-66 of BRVT and Fire protection department to prepare the plan on large-scale fire fighting practice at Thi Vai refrigerated LPG storage; fully inspecting, reporting on security, safety, fire protection tasks at gas works to Ministries, departments, agencies and local authorities as well as PVN;... Total safe work time reached 1.24 million hours.
PV Gas has seriously carried out the gas sale/ supply contracts with best efforts. In the quarter, PV Gas has implemented some tasks such as: Signing the contract with VSP on Thien Ung – Dai Hung gas and condensate transportation, compression; completing the draft and preparing negotiation on Thien Ung, Dai Hung gas sale contract between PV Gas and PVN; signing CTA contract of Hai Thach – Moc Tinh, block 05.2&05.3 with BDPOC; signing LNG purchase contract with Gazprom (signed on 4/3/2014)….
NCS gas and condensate transportation services have always satisfied the demands of the lessee, and there were no customer complaints regarding to product quality. PV GAS has also performed regular and unscheduled preventive maintenance, verification and calibration in accordance with the plan and the process with quality and ensuring stable operation; completed the list of materials, instruments,... setting up the major overhaul team (TA) and preparing budgets for major overhaul tasks in 2014. PV Gas will continue focusing research on the topics catering to production and business activities.                        
PV GAS has implemented training courses according to the 2014 training plan approved by PVN; promptly effecting salary increase, adjustments for employees according to regulations; making preparations for the 2014 annual General Meeting of Shareholders; listing 2013 statements of assets and income of PV Gas’ managerial officials according to Decree No. 78/2013/ND-CP dated 17/7/2013 on transparency of assets and income, Circular No. 08/2013/TT-TTCP dated 31/10/2013 of the Government Inspectorate on guiding the implementation of above Decree and directions of PetroVietnam. PV Gas has also implemented the social security programs at its units nationwide according to the allocation of PVN to PV Gas in 2014.
On 27/3/2014, the delegation of PVN Members Council led by Mr. Phung Dinh Thuc, PVN Board Chairman has come to work with PV Gas on corporate restructure and business results of quarter I/2014. Attendees at the meeting included PVN Board Members, Vice presidents and representatives from the professional divisions of PVN. PV GAS’ participants included Mr. Nguyen Nhu Linh- PV GAS Board Chairman, Mr. Do Khang Ninh-President & CEO; Board members, Vice Presidents, leaders from divisions, subsidiaries and member companies.
At the meeting, PV GAS leaders have reported on the implementation of quarter I/2014 business plan, orientation for quarter II; carrying out PVN’s program on following the Government’s instructions on capital management at PV GAS and corporate restructure.
Mr. Phung Dinh Thuc, PVN Chairman highly appreciated the results achieved by PV Gas in quarter I and requested PV Gas to keep promoting its capacity, qualifications and tradition to accomplish the targets of subsequent quarters as well as those of 2014. For the projects currently in progress or to be implemented, PVN Chairman also proposed PV Gas to strongly proceed with the projects of urgent schedule, coordinate with stakeholders to ensure their progress and quality.