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Company News

SAO VANG & DAI NGUYET PROJECT – FIRST-CUT CEREMONY

(19/3/2018)

Vungtau City, Vietnam

On March 16th 2018, the First Cutting Ceremony for Sao Vang Dai Nguyet (SVDN) Project  has been launched at PTSC Mechanical & Construction (PTSC M&C) Fabrication Yard in Vungtau City, Southern of Vietnam.

Attending the event there were representatives from Idemitsu Kosan Company - project operator, PetroVietnam, INPEX (project co-owner) together with the Project Management Team, PTSC M&C employees and representatives from the local media.

The SVDN Project comprises of Sao Vang and Dai Nguyet fields, locate at blocks 05-1b and 05-1c respectively in the Nam Con Son basin, about 350km south-east offshore Vungtau City at about 120m waterdepth. The project first phase includes the Sao Vang Processing Platform (Sao Vang CPP) and infield pipeline system. The Sao Vang CPP Topside weighs nearly 14,000 MT, where the jacket and piles are about 15,000 MT heavy. The first gas for Sao Vang CPP is targeted in Q3/2020.

From a long-range of the bidding & negotiating process, Idemitsu Kosan awarded PTSC M&C the EPCIC Contract for the Project Management, Detail Engineering, Procurement, Construction, Transportation & Installation, Hookup & Commissioning and the contract was signed in February 2018. SVDN Project is the first offshore project developed by Idemitsu Kosan in Vietnam and it was given to PTSC M&C as the Main EPCIC Contractor. This once again proves the capability and also confirms the position of PTSC M&C in the petroleum service market, not only in Vietnam but also in international wise. 

The SVDN Project will contributes significant meaning to the operations for PTSC in the coming time, especially in the context of the oil and gas industry still being in a very uncertain situation, due to the reduction of oil prices in recent years. The SVDN Project also marked another important achievement in PTSC M&C’s development path, since Sao Vang CPP will be the third Central Processing Platform being fabricated by PTSC M&C in recent years, after the Bien Dong 1 CPP delivered for Bien Dong POC in late 2012 and the Heera CPP for ONGC (India) in late 2014.