PTSC - Brandname affirmed with new hight

PTSC's Delegation at the Port

The Naming Ceremony was solemnly held with the presence of His Excellency Mr. Tran Hai Hau – Ambassador Extraordinary and Plennipotentiary of the Socialist Republic of Vietnam in the Republic of Singapore and his spouse, Dr. Phung Dinh Thuc – Chairman of Vietnam Oil and Gas Group (PVN), Dr. Nguyen Hung Dung – PVN Vice President, Mdm. Bui Kim Dung – Lady Sponsor and distinguished guests from Vietnam Registry, Ho Chi Minh City Port Authority, Vung Tau Port Authority. PTSC’s delegation to the ceremony was led by Mr. Phan Thanh Tung – General Director. The ceremony was also presented by representatives from Keppel Shipyard, PVN subsidiaries, partners, clients, financing banks, contractors and media from Singapore, Vietnam and Malaysia.

“PTSC Lam Son” is a large scale project for repair and conversion of an FPSO (with overall investment of more than USD 400M). This is the first time that a Vietnamese contractor assumes the role of main contractor for the full project scope, ranging from finance arrangement, engineering, procurement, repair & conversion, commissioning, transportation, offshore installation, to operation & maintenance during contract period with LSJOC. “PTSC Lam Son” is designed with a minimum storage capacity of 350,000 barrels, capable of processing 18,000 barrels per day and working continuously offshore (without dry docking) for ten years. The systems on the FPSO include: power generators, boilers, separator, compressor, water injection, metering, anchor, 5 risers, 2 umbilicals to wellhead platforms and fire-fighting/ life-saving equipment which comply with international standards. “PTSC Lam Son” is now in its 22nd month while the duration for a project of this scale is normally at least 24 months.

Speaking at the Ceremony, on behalf of PVN, Dr. Nguyen Hung Dung – PVN Vice President acknowledged PTSC’s efforts on this project. By taking over the project from FOP, PTSC not only saved the project from collapsing which would cause a huge loss for Lam Son JOC and its partners PVEP/PCVL but also supported PetroVietnam’s subsidiaries in which the purchase of M/V Poseidon M from PVTrans is an example. Dr. Nguyen Hung Dung emphasized that with the success on this project, PTSC re-affirmed its ability and enhanced its position to become one of the leading FSO/FPSO contractors in the region. This has satisfied PVN’s expectation when PVN appointed PTSC as the focal point within the Group for chartering, operating and maintance of FSO/FPSO.

Continuous with success from investment and provision of FSO PTSC Bien Dong 01 for Bien Dong Petroleum Operating Company, the success of FPSO “PTSC Lam Son” project once again affirmed PTSC’s competence, prestige and growth in the field of investment, construction/conversion, production, operation and maintenance of FPSO/FSO - one of the six core businesses of PTSC. Revenue from chartering, operation and maintenance of FSO/FPSO reached 1.170,0 billion VND in 2013.

With over 20 years of development, with successful completion of several large-scale projects, PTSC continues to affirm its position as a leading contractor in the oil & gas industry, a partner of choice for high-tech and complicated petroleum services in Vietnam and the region. 

Source: PTSC/VietnamEnergy.vn