Nearly 200 delegates attended, including Mr. Le Manh Cuong - Deputy General Director of Vietnam National Energy and Industry Corporation (the Corporation); Mr. Pham Quang Dung - Member of the Standing Committee of the Party Committee, Chief of the Party Committee Office of the Corporation, Chairman of the Veterans Association of the Corporation, Member of the Standing Committee of the Central Committee of the Vietnam Veterans Association; along with former leaders from various periods; the Party Committee Executive Board; the Board of Directors; the General Directorate; the Supervisory Board; the Trade Union Executive Board; leaders of functional departments; the Head of the Secretariat; the Chief of the Party and Mass Organization Office; the Chairman of the Veterans Association; the Secretary of the Youth Union; leaders of member and affiliated units and Vietnam Petroleum Technical Services Corporation ( PTSC ).
Presidium at the conference
Business production in 2025 sets a new milestone.
The business performance report presented by Mr. Tran Ho Bac, Deputy Secretary of the Party Committee, Member of the Board of Directors, and General Director of PTSC, clearly outlined the business outlook for 2025 with many outstanding highlights. Despite the ongoing risks, price fluctuations, fierce competition, and increasingly stringent demands for progress, quality, and safety in the global energy market, PTSC has successfully met and exceeded most of its planned targets. Total consolidated revenue for 2025 is projected at VND 32,000 billion, exceeding the plan by 107%; consolidated pre-tax profit is expected to reach VND 1,255 billion, affirming the effective management and resilience of the Corporation.
Mr. Tran Ho Bac - Deputy Secretary of the Party Committee, Member of the Board of Directors, General Director of PTSC
Notably, the revenue structure continues to shift towards sustainability. Core services such as oil and gas engineering, EPC/IC, port and logistics services, and FSO/FSRU continue to play a pivotal role, while new areas such as renewable energy, offshore wind power, and high-quality technical services are gradually establishing their position. The Corporation's leadership has clearly demonstrated a decisive, flexible, and proactive management spirit, reviewing the investment portfolio, tightly controlling costs, strengthening risk management, and promoting digital transformation in management and operations. These are the factors that have helped PTSC maintain stable growth in a challenging year.
In 2026, PTSC will continue to pursue its development goals in core service areas, while proactively expanding into new areas in line with the shifting trends of the energy industry. With experience gained during periods of significant change, the Corporation will focus on improving governance quality, strengthening its EPCIC general contractor and project management capabilities, consolidating its supply chain, and maximizing the effectiveness of existing investments, thereby creating room for stable and long-term growth. Along with expanding its market and enhancing international competitiveness, PTSC will prioritize system standardization, human resource development, and building a sustainable operational foundation for future growth.
Party and mass organization work continues to play a core role, accompanying production and business tasks.
The report on Party building work in 2025, presented by Mr. Nguyen Xuan Ngoc - Member of the Standing Committee of the Party Committee, Chairman of the Party Committee's Inspection Committee of the PTSC Corporation, showed that the PTSC Party Committee has focused on leading and directing all aspects of political and ideological work, organization and personnel, inspection and supervision, and mass mobilization work; in particular, political and ideological education has been regularly implemented, linked with studying and following the thoughts, ethics, and style of Ho Chi Minh, contributing to enhancing the political acumen and sense of responsibility of the cadres and Party members. 2025 also marks the successful organization of the PTSC Party Congress for the new term, ensuring adherence to principles and procedures, promoting democracy and collective intelligence; at the same time, inspection and supervision work continues to be emphasized to maintain Party discipline, prevent violations, and improve leadership effectiveness.
Mr. Nguyen Xuan Ngoc - Member of the Standing Committee of the Party Committee, Chairman of the Party Committee's Inspection Committee of the Corporation.
Simultaneously, the report on the work of the Trade Unions, presented by Mr. Pham Van Hung - Member of the Standing Committee of the Party Committee, Chairman of the Trade Union, and Deputy General Director of PTSC, affirmed the positive role of the Trade Unions in accompanying the production and business tasks, with many practical emulation movements, successfully organizing Trade Union congresses at all levels, and caring for the material and spiritual lives of employees; the total social welfare expenditure implemented during the year reached nearly 35.7 billion VND. The movement for technical innovation and improvement continued to be promoted with 190 initiatives and inventions recognized; tens of millions of safe working hours were maintained, while the Youth Union and the Veterans Association effectively played their role in educating traditions, spreading the spirit of responsibility, discipline, and dedication throughout the Corporation, contributing to consolidating a solid political and social foundation for the development of PTSC.
Mr. Pham Van Hung - Member of the Standing Committee of the Party Committee, Chairman of the Trade Union, Deputy General Director of PTSC
Awarding honorary titles and commendations to individuals and groups with outstanding achievements in 2025.
PTSC is gradually transforming and making breakthroughs.
Speaking at the conference, Mr. Le Manh Cuong stated that in 2025, the Group comprehensively fulfilled all targets with high growth rates. PTSC continued to play a leading role, making significant contributions to the Group's overall results. The signing and renewal of many large-scale oil and gas contracts, something that hasn't happened in many years, helped the Group maintain stable growth, even in the context of falling oil prices. As a crucial link in PVN's value chain, PTSC contributed to major projects, notably the Block B project, and completed 33 offshore wind turbine foundations under the CHW2204 project…
Mr. Le Manh Cuong - Deputy General Director of the Group
Alongside its achievements, 2025 also presents numerous challenges. However, PTSC's resilience is demonstrated through its proactive spirit, risk control, and ability to transform difficulties into concrete results. Entering 2026, the challenges will be greater, but opportunities will also be abundant with large-scale projects. For sustainable growth, substantial investment in assets, financial capacity, and especially human resources is essential. With its existing foundation, PTSC will continue to break through and partner with PVN on its journey towards sustainable development in the future.
Concluding the conference, the PTSC Corporation's leadership team launched a Commitment to Action, demonstrating determination and a unified will to act throughout the entire system. In 2026, PTSC will enter a new phase, a period of strong transformation from within to achieve breakthroughs in scale, with an action orientation based on four core values (P - Proactivity: Proactive, innovative, pioneering; T - Trust: Trust, discipline, fulfilling commitments; S - Sustainability: Sustainability, improvement; C - Collaboration: Cooperation, connection).
The PTSC team is fulfilling its 2026 action commitment: "Transform and Breakthrough".
The commitment emphasizes a proactive spirit, daring to think, daring to act, and daring to take responsibility; pioneering innovation and creativity; maintaining discipline, working professionally, using results as the measure of effectiveness, and keeping promises in all commitments. At the same time, PTSC is committed to sustainable development, deep integration into the global supply chain, linking growth with social responsibility, environmental protection, and building a culture of "Aspiration - Intelligence - Professionalism - Compassion". In the spirit of "One team - one goal," the entire Corporation aims for a long-term goal in 2026 with the orientation of "Transforming from internal strength - Breaking through to reach further" in the next development phase.
Nguyen Quoc An Khang
Source: https://www.ptsc.com.vn/tin-tuc/tin-ptsc-1/san-xuat-kinh-doanh/noi-luc-vung-chac-ptsc-tung-buoc-chuyen-minh-but-pha
![[Photo] Prime Minister Pham Minh Chinh presides over a meeting on private sector economic development.](/_next/image?url=https%3A%2F%2Fvphoto.vietnam.vn%2Fthumb%2F1200x675%2Fvietnam%2Fresource%2FIMAGE%2F2025%2F12%2F20%2F1766237501876_thiet-ke-chua-co-ten-40-png.webp&w=3840&q=75)
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