Celebrating the 63rd Anniversary of Vietnam Oil and Gas Industry Tradition Day (November 27, 1961 - November 27, 2024)
Oil and gas technical services master technology, reach out to the world
Oil and gas technical services master technology, reach out to the world
In the 90s, the oil and gas service industry matured, developed comprehensively and became a strong industry in the three upstream, midstream and downstream stages. One of the important steps was the establishment of the Petroleum Technical Services Company ( PTSC ) in 1993, marking the strategy to meet production and business requirements in the context of the oil and gas industry entering a new page in history.
PTSC has quickly become a leading unit in the oil and gas technical services industry, mastering most stages in the offshore oil and gas industry, from survey, design, fabrication, connection, testing, installation to operation and maintenance of oil and gas projects. The company also supplies and operates floating storage and export of crude oil, serving both domestic and international markets. To meet the development needs, Vietnam Oil and Gas Corporation (now Vietnam Oil and Gas Group - Petrovietnam ) separated some parts of PTSC to establish large specialized service companies such as: Petroleum Drilling and Services Company (PV Drilling) in November 2001, Petroleum Transportation Company (PVTrans) in 2001 and reorganized companies such as Petroleum Trading Company (Petechim, 1994), Petroleum Tourism Services Company (PETROSETCO, 1996), Petroleum Products Processing and Trading Company (PDC, 2001)...
Over the past 3 decades, the development of oil and gas services by Petrovietnam member units has completely conquered the domestic market and expanded internationally. In the period 2016-2020, revenue from oil and gas services reached 895 trillion VND, contributing 55.1 trillion VND to the State budget. Service growth reached 9%, accounting for 30-40% of Petrovietnam's total revenue. Of which, international contracts accounted for over 60% of the Group's total service revenue. The brand and reputation of service companies such as PTSC,
PV Drilling and PVTrans are increasingly affirmed, bringing large foreign currency revenue to the country and being a solid premise for future international investment plans.
Offshore wind power base fabrication site at PTSC Vung Tau Port
Mastering technology step by step
As a pioneer in providing technical services related to oil and gas exploration and exploitation, PTSC constantly researches and participates in developing new types of services according to market needs. With creative solutions, suitable for each type of service such as technology transfer, self-study, research, joint venture cooperation... PTSC has gradually mastered the operation and exploitation of equipment and means classified as advanced and modern in the world such as dynamic positioning vessels (DP2), floating storage, processing and export of crude oil (FPSO/FSO), liquefied petroleum gas (LPG) carriers, underwater survey and repair robots (ROV), lifting and transporting vehicles for oversized and overweight goods, fully meeting customers' requirements on technology and safety.
Along with innovating and mastering the operation and exploitation of modern equipment and means invested or managed by PTSC, PTSC has chosen the solution of enhancing competitiveness and reducing production costs by applying science, technology and new technologies to production and business activities such as surveying and repairing underground works using remote-controlled robots, high-voltage welding technology, heat welding, advanced applications of the information technology industry... After more than 30 years, PTSC has now expanded its operations to international markets such as the Middle East, India, Taiwan (China), Malaysia, Brunei, Indonesia, Thailand and has become a strong brand in the region.
Not stopping at core service areas, PTSC also quickly grasped the energy transition trend to develop new products, resolutely invested, restructured, and expanded the provision of services in the field of offshore renewable energy (RE). PTSC has become the first Vietnamese enterprise to win international bids for the construction of offshore wind power bases and wind power transformer stations for foreign investors. Up to now, many bases and mechanical components manufactured by PTSC have been exported to offshore wind power projects in Taiwan (China) and Nordic countries.
PV Drilling makes an impressive mark in the Malaysian drilling market
The brand and reputation of service companies such as PTSC, PV Drilling, PVTrans are increasingly affirmed, bringing large foreign currency revenue to the country and being a solid premise for future international investment plans.
Affirming position in the international arena
Pioneering in the field of oil and gas drilling, after being separated from the core PTSC, PV Drilling has focused on and promoted investment in machinery, equipment and technological innovation since its establishment.
research and application of science and technology in its core business areas. After 23 years of establishment and development, from a mechanical workshop with simple initial technical facilities and modest resources, PV Drilling has now become a pioneer drilling contractor in the oil and gas drilling sector with assets of approximately 1 billion USD. Possessing a fleet of modern drilling rigs, a workforce of more than 2,000 highly skilled employees, a professional working style, and a system of advanced technical machinery and equipment that can perform diverse technical services, including high-tech services, has helped PV Drilling successfully establish a strong competitive position as an international drilling contractor, capable of providing full-package services to customers.
With a solid foundation, focusing on high-quality oil and gas technical services, focusing on building and applying a corporate governance system based on modern information technology according to international standards, PV Drilling has met the requirements of rapid integration into the competitive environment with foreign service providers. The unit has always grown impressively for many years, is considered one of the leading units with high production and business efficiency of Petrovietnam and is in the top of the enterprises with the largest contribution to the State budget and the community; thereby consolidating internal strength and successfully overcoming the challenge of the "double crisis", while expanding market share in the markets of Malaysia, Brunei, Indonesia, etc.
PVTrans - one of the three key units of the technical service sector is also an enterprise with remarkable transformation through the strategy of shifting its business model and developing strongly in the international market. To overcome the most difficult period in the history of the Oil and Gas industry, PVTrans has begun implementing the strategy of "fleet rejuvenation" to increase competitiveness, operational efficiency, and ensure long-term growth momentum. Currently, PVTrans has developed a fleet of 58 ships, diverse in types with a total tonnage of about 1.7 million DWT, nearly 90% of the fleet is operating on routes around the world. PVTrans continuously maintains the domestic transportation market, while developing strongly in Asia - Pacific, the Middle East to West Africa and is aiming for Europe and North America; with the goal of achieving at least 70% of its revenue and profit structure from the international market by 2025.
As one of the leading enterprises in Vietnam in the field of maritime transport, especially liquid cargo transport, PVTrans does not only stop at transportation but also expands into the field of oil and gas exploitation operations. In recent years, PVTrans has participated in the operation of the Sao Vang - Dai Nguyet oil rig, one of the large and complex oil and gas projects operated by Idemitsu Japan. The unit has invested heavily in human resource training and application of advanced technology, thereby successfully maintaining 100% of the operating time of the systems since the project was put into operation. This is the result of a process of accumulating experience and careful preparation in the field of conversion, management of floating vessels and exploitation technology for many years. The above achievements also affirm the capacity of the PVTrans team to fully meet the strict international technical standards, continuing to build strong trust from domestic and foreign partners.
PVTrans fleet operates strongly in international waters
New growth drivers of the Oil and Gas industry
In the context of the very stressful growth plan throughout Petrovietnam, Chairman of the Board of Directors of Petrovietnam Le Manh Hung commented that high-quality oil and gas technical service units are organizing production and business in line with the trend, with innovation in thinking, shifting and changing business models to suit the changing environment; adding new driving forces, developing international business, increasing competitiveness in the market. Petrovietnam's service sector has had strong growth steps, increasing the proportion of contribution to the overall results of the Group.
In 2024, Petrovietnam is focusing on implementing many large projects such as the Block B Gas - Power Project Chain, preparing to develop renewable energy projects... creating conditions for the oil and gas technical services sector to accelerate and become a new growth driver for Petrovietnam, in addition to the fields of electricity and renewable energy, petrochemicals, gas industry... With the strategy of gradually transforming the business model, the service sector is assessed to make an important contribution to forming an infrastructure system, creating a foundation for expanding scale, continuing to increase the value of Petrovietnam in the international market. In response to that expectation, Petrovietnam's high-quality oil and gas technical services units have been making continuous efforts to innovate, improve competitiveness and increase the scale of operations, creating a solid foundation for Petrovietnam to reach greater goals in the future.
Nguyen Phuong
Source: https://www.pvn.vn/chuyen-muc/tap-doan/tin/16b29457-be98-4d91-bfaf-b7e24751e49e
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