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With a view to increasing oil and gas reserve and discovering new fields to meet domesticdemand and export, Petrovietnam has been carrying out effective exploration and production of oil and gas both at home and abroad through PSC, JOC, JOA, BCC contracts, self-investment and self-management in exploration, making important petroleum discoveries, quickly bringing the discovered fields into production phase with the application of state-of-the-art technologies to increase production as well as oil and gas recovery rate, thus protecting the environment and natural resources.