PTSC maximizes resources to develop new products and services

On March 29, 2024, in Ho Chi Minh City, the Working Group of Vietnam Oil and Gas Group (Petrovietnam) worked with the Petroleum Technical Services Corporation ( PTSC ) on strategy, medium and long-term development plans and implementation of PTSC 's 2024 plan.

The Petrovietnam delegation was led by Mr. Le Manh Hung - Chairman of the Board of Directors, Mr. Le Ngoc Son - General Director, Mr. Pham Tuan Anh - Member of the Board of Directors, Mr. Tran Binh Minh - Member of the Board of Directors, and representatives of specialized departments and the Group's office.

On the PTSC side, there were Mr. Phan Thanh Tung - Chairman of the Board of Directors, Mr. Le Manh Cuong - General Director, along with members of the Board of Directors, Board of General Directors, Board of Supervisors, and Heads of PTSC's professional departments.

Mr. Le Manh Cuong - General Director of PTSC reports on production and business activities

Reporting on PTSC's production and business activities and medium and long-term plans, Mr. Le Manh Cuong - General Director emphasized that in the first 3 months of the year, PTSC has actively promoted production and business activities, organized the sending of many vehicles and equipment to work abroad as well as accelerated the progress of offshore renewable energy mechanical projects and deployed preparations for the implementation of the Block B project packages that have been awarded. PTSC's production and business activities were organized safely and effectively, contributing to creating a favorable start for the completion of the goals and tasks assigned to PTSC in the 2024 plan.

The investment work of the parent company has been promoted by PTSC since the beginning of the year according to the approved plan, including: implementing investment in service vessels; implementing/settling contracts for investment in vehicles and equipment for renewable energy projects that have been signed as well as implementing procedures for investing in more new vehicles and equipment; continuing to organize and implement construction investment projects according to the set schedule.

In 2024, PTSC will continue to review and update the market situation for each service sector and each unit to ensure the successful implementation of the tasks and targets of the annual management plan assigned by the Group, specifically maximizing PTSC's strongest resources to develop new products and new services to promote the value chain's strengths based on PTSC's scale and multi-service advantages, within the Group's linkage chain; Promote the provision of core services to ensure PTSC's competitive advantages for customers outside the industry and abroad; Strictly manage investment work according to the approved plan, focus on investment in core areas; Review and carefully evaluate market and customer needs, closely follow reality to ensure efficiency and implementation capability to improve competitiveness.

Delegates speaking at the meeting

Promote research and participate in investment in renewable energy projects; Cooperate with potential investors to build supply chains for offshore wind power projects in Vietnam and the world; Focus on and promote the overall restructuring of PTSC in accordance with actual conditions to ensure the sustainable development of PTSC, aiming to reduce intermediary levels, focus on efficiency, right people, right jobs, right income, create motivation and new energy to develop new products and new services both domestically and internationally.

Deploy the construction of a risk management system, maintain and develop the application of quality, health and safety and environmental management systems throughout the Corporation; Promote scientific research activities, improve and promote initiatives in production; Upgrade and expand the effective exploitation of modern information technology application software in production and business management.

Mr. Le Ngoc Son - General Director of Petrovietnam speaking at the meeting

Mr. Le Ngoc Son - General Director of Petrovietnam highly appreciated the production and business results of PTSC in recent times.

Regarding investment strategy, PTSC is very suitable to create new products, new services, worthy of the scale of an international enterprise. Besides, PTSC does not forget to invest in developing traditional work, the part of work that PTSC has a lot of experience, from which it serves as a foundation to invest in new products, new services. In the current context, PTSC needs to rearrange warehouses to organize and divide its service activities.

Mr. Le Manh Hung - Chairman of Petrovietnam Board of Directors gave a directive speech

Mr. Le Manh Hung - Chairman of the Board of Directors of Petrovietnam highly appreciated PTSC for maximizing its strongest resources to develop new products and new services to promote the value chain's strengths based on PTSC's scale and multi-service advantages. This helps PTSC catch up with world trends and increase its competitiveness in the international arena.

PTSC’s human resources are also a strength, with the ability to approach, implement and manage projects effectively. This is the difference that has created the PTSC brand in the past as well as in the future when PTSC participates in many foreign projects.

According to PVN.

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