PTSC and Yinson Production signed a Contract to supply FSO for the Block B Gas Field Development Project - an important milestone in the National Key Project Chain

On July 28, 2025, in Ho Chi Minh City, the PTSC South East Asia Pte. Ltd (PTSC SEA) Joint Venture between Vietnam Oil and Gas Technical Services Corporation (PTSC) and Yinson Production Capital Pte. Ltd (Yinson) officially signed the transfer of the FSO leasing and operation contract for the Block B Gas Field Development Project signed by the Vietnam National Energy Industry Group Branch - Phu Quoc Oil and Gas Operating Company (PQPOC) and Vietnam Oil and Gas Technical Services Corporation (PTSC). This is one of the major and strategic contracts of the Block B Gas Field Development Project, marking an important step in completing the offshore gas exploitation, collection and processing infrastructure for the Project.

The FSO will be newly built, using a 360-degree fixed mooring system, operating at a water depth of about 80m and with a capacity of up to 350,000 barrels of condensate. The FSO supply contract has a term of about 14 years and can be renewed annually for the next 9 years. This is also the second FSO contract implemented by the joint venture between PTSC and Yinson in less than a year, following the FSO Lac Da Vang supplied to Murphy Oil signed at the end of 2024. Along with the extension of the operation of FPSO PTSC Lam Son until 2026, the series of cooperation projects between the two parties continues to strengthen the strategic partnership, contributing to expanding the scope of operations and enhancing PTSC 's competitiveness in the international market.

The FSO project is not only of commercial and technical significance but also an important link contributing to ensuring the progress and overall success of the entire Block B - O Mon Gas - Power Project Chain. As a domestic general contractor participating in the implementation of key offshore items of the Project Chain, PTSC not only demonstrates its comprehensive and synchronous implementation capacity, but also plays a coordinating and technical connection role throughout the bid packages. The continued assignment of the FSO Contract this time is a clear demonstration of PTSC's capacity, reputation and increasingly solid position in the field of offshore oil and gas technical services, especially in the context of increasingly stringent requirements for technology integration, progress and quality. This is also an important step forward, contributing to the completion of the value chain that PTSC is undertaking in the entire Project Chain, while making a practical contribution to ensuring implementation progress and operational efficiency.

Tran Thi Huyen Trang - Photo: Phan Hung

Source: https://www.ptsc.com.vn/tin-tuc/tin-ptsc-1/san-xuat-kinh-doanh/ptsc-va-yinson-production-ky-ket-hop-dong-cung-cap-fso-cho-du-an-phat-trien-mo-khi-lo-b--dau-moc-quan-trong-trong-chuoi-du-an-trong-diem-quoc-gia