PTSC determined to complete the mission by 2025

On July 21, 2025, at the headquarters of Vietnam Oil and Gas Technical Services Corporation ( PTSC ), the Party Committee of the Corporation held the 2nd Party Executive Committee Conference (expanded) and the Preliminary Review of the first 6 months of 2025 with two key contents: (1) Evaluation of the production and business results in the first 6 months of the year and the direction and tasks for the last 6 months of 2025 of PTSC ; (2) Evaluation of the Party work in the first 6 months of the year and deployment of the direction and tasks for the last 6 months of 2025 of the Party Committee of the Corporation. The conference was attended by Mr. Phan Thanh Tung - Party Secretary, Chairman of the Board of Directors of the Corporation; Mr. Tran Ho Bac - Deputy Party Secretary, General Director of the Corporation and all members of the Party Executive Committee, the Party Inspection Committee, the Board of Directors, the Supervisory Board, and the Board of General Directors; Heads and Deputy Heads of Party Committees, Party Offices - Mass Organizations; Chairman of the Trade Union, Chairman of the Veterans Association, Secretary of the Youth Union; Heads and Deputy Heads of functional Committees and the Office of the Corporation; Secretaries of Party Committees and affiliated grassroots Party cells; and comrades who are Representatives of the Corporation holding the positions of Chairman and Director at member units and units directly under the Corporation.

Conference overview

Report on production and business results in the first 6 months of 2025, directions and tasks for the last 6 months of 2025 of the Corporation and Units
In the first 6 months of 2025, PTSC has fully completed its production and business targets: revenue reached 100% of the 6-month management plan, equivalent to 40% of the yearly management plan assigned by PVN; profit after tax reached 52% of the yearly management plan. Investment work was promoted with the total investment value of the parent company reaching 142% of the 6-month plan. To achieve the above figures, PTSC has focused on promoting production and business, constructing oil and gas mechanical projects, renewable energy, ensuring maximum revenue in the year. Prioritizing the implementation of highly effective projects in the PVN value chain, especially in the field of high-quality technical services. At the same time, PTSC continues to build an overall strategy, promote digital transformation, improve management capacity, and standardize operations according to international standards. Cost reduction, resource efficiency improvement, investment efficiency monitoring and risk management are being vigorously implemented to enhance competitiveness and ensure the achievement of the 2025 target.
Party Secretary, Chairman of PTSC Board of Directors Phan Thanh Tung speaks at the conference

Speaking at the conference, Party Secretary and Chairman of the Board of Directors of PTSC Phan Thanh Tung emphasized: “In the coming period, the Corporation will face many challenges, especially in implementing offshore wind power projects and infrastructure investment. Some units still have difficulties in capital, land, and mechanisms, requiring us to be creative, economical, and efficient in each project. PTSC and its member units need to be united, improve science and technology capacity, digital transformation, and be determined to exceed targets, aiming for sustainable development goals, generating large revenues from key areas such as marine mechanics, submarine cables, and electricity exports…”
Report on Party work in the first 6 months of the year and directions and tasks for the last 6 months of 2025 of the Party Committee of the Corporation
The Party Committee of the Corporation promptly grasped and implemented 8 key resolutions and action programs (including Resolutions No. 133, 134, 151, and 5 other directive documents) and completed the PTSC Development Strategy to 2030, with a vision to 2050. Political and ideological work was promoted through 5 plans, attracting over 1,090 cadres and party members to attend national conferences. Regarding Party building, 242 trainees were sent to attend training courses, 41 new party members were admitted, 38 probationary party members were officially recognized, and 75 party cells, 19 grassroots party committees with 1,596 party members were maintained. Inspection, supervision, anti-corruption and mass mobilization work were seriously organized, meeting the progress of preparations for Party Congresses at all levels. In addition, the PTSC Party Committee has seriously implemented the direction of the Group Party Committee with a focus on mobilizing all resources to complete production and business targets, ensuring absolute safety; promoting digital transformation, innovation, striving for double-digit growth according to Resolution No. 951 NQ/DU. Prioritizing investment restructuring, optimizing costs, improving risk management and recovering overdue debts; implementing corporate restructuring, consolidating high-quality human resources associated with rotation and training plans. Synchronously implementing preparations for the 8th PTSC Party Congress, perfecting the system of internal documents and strengthening mass mobilization activities, preventing corruption and waste to ensure a solid political and legal foundation for 2026.

Deputy Party Secretary, General Director of PTSC Tran Ho Bac spoke at the conference
Deputy Secretary of the Party Committee, General Director of PTSC Tran Ho Bac said that in the first 6 months of 2025, the Corporation has achieved some positive results in production and business and institutional improvement, with key projects such as Lac Da Vang, Lot B, CHW2204, Long Son... recording positive progress. However, investment work still has many limitations, some units have not achieved expected revenue and profit. In order to ensure the whole year's goals and prepare for the 2026 period, the Corporation has identified 4 key areas to focus on: Completing the 2025 production and business plan; Proactively seeking jobs for the following year; Continuing to improve financial institutions, salaries...; Deploying development strategies, digital transformation, R&D, risk management.
The conference ended successfully and demonstrated PTSC's determination to achieve its 2025 goals, while also creating momentum for the entire system to continue to innovate, accelerate production and business, promote digital transformation and invest effectively. With a spirit of solidarity, proactiveness and responsibility, PTSC aims to exceed the annual plan, creating a solid foundation for the next stage of development.