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Company News

THE SIGNING CEREMONY OF SU TU TRANG CONTRACT AND SUBCONTRACT

(15/11/2010)

In the afternoon of November 15th 2010, the ceremony of signing Su Tu Trang LTPTP EPCI (Su Tu Trang project) contract between Cuu Long Joint Operating Company (CLJOC) and PTSC Mechanical & Construction (PTSC M&C) has successfully taken place at the Grand Hotel, Vung Tau city.

The ceremony has honorably received the attendance of representatives from PetroVietnam Exploration Production Company (PVEP); Board of Directors from CLJOC and its partners, Mr. Nguyen Hung Dzung- the General Director of PetroVietnam Technical Services Corporation (PTSC) and related parties.
The Su Tu Trang (STT) field is located in Block 15-1 offshore Vietnam, approximately 145 km east of Vung Tau. The project’s scope of work consists of Engineering, Procurement, Construction, Installation, Hook-up and Commissioning for a 1,400 ton Wellhead Platform topsides, 1,200 ton jacket, 1,000 ton jacket pile, 19,5 km infield pipeline. Besides, the Work also includes the modification for the existing Su Tu Vang Central Processing Platform (CPP).
The project actually started on March 17, 2010 with the provision of a Letter of Intent. The project schedule is then supposed to last in the period of 27 months and be completed in mid June, 2012. The total contract value is approximately 145 US Dollars million.
Subsequent to the successful completion of the Su Tu Den North East project, with the First oil date achieved 2 months earlier than planned and the project quality and performance highly appreciated by CLJOC, the Su Tu Trang project is the next project for CLJOC that PTSC M&C undertakes in the role of an EPCI Contractor.
PTSC M&C is a subsidiary of PetroVietnam Technical Services Corporation (PTSC) specialized in being the EPCI main contractor Oil & Gas projects. In nearly a decade of foundation and development, PTSC M&C has carried out more than 30 projects in which there are EPCI projects including Su Tu Den North East, Chim Sao, Te Giac Trang, Su Tu Trang and Bien Dong 1 projects, being implemented in safety, high quality and schedule, bringing benefits to Clients and receiving great appreciation from Clients as well as partners in both domestic and regional areas.
At the ceremony, Mr. Phan Thanh Tung, Director of PTSC M&C has demonstrated the deepest hearty thanks to CLJOC for providing PTSC M&C with the trust and responsibility to implement their projects. He, also, gave his commitment that PTSC M&C would utilize all necessary resources whilst proposing to get parties’ highest corporation and greatest endeavor to implement Su Tu Trang Project in safety, high quality, achieving the First Oil schedule for CLJOC.
On the same day, the ceremony of signing the subcontract of Su Tu Trang project for the Engineering, offshore Transportation and Installation between PTSC M&C and Nippon Steel Engineering Company (NSEC) was conducted. Representatives from NSEC committed to carry out the work with all of its best efforts, contributing to the success of NSEC’s first project in Vietnam.