Company News

Despite the turmoil of falling oil price that leads to the shrinking petroleum service market, PTSC M&C has continued conducting new service development activities in addition to its concerted efforts and synchronous solutions implemented to navigate through market challenges. In particular, PTSC M&C has ventured more into onshore fields, and the award of its work-scope in the GPP Ca Mau Project (the Project) has represented the company’s enthusiasm, solidarity and great spirit towards its objectives.

In 2016, the turnover target of 245 million USD was reached; eight million working man-hours were achieved and 20,000 tons structures were fabricated.

With the history of booms and busts, the oil industry has again been in its deepest turmoil since 2014. Huge numbers of rigs were de-commissed. Investment in oil exploration and production was dramatically cut. Hundred thousands of oil workers lost their jobs. The used-to-be-promising industry has now been colored by a greying sky.

PTSC M&C’s work-scope covers the erection work of 03 systems namely Electrostatic Precipitator, Selective Catalytic Reduction and Flue Gas Desulfurization System. Total weight is of 26,000 MT. The wok-scoped is tentatively scheduled from October 2016 to October 2018.

Within the framework of her official visit to India, in the afternoon of 10th December 2016, Chairman of the National Assembly Nguyen Thi Kim Ngan had a meeting with Mr. Dinesh Kumar Sarraf, President and CEO of Oil and Natural Gas Corporation Limited (ONGC) and Mr. Narendra K. Verma, Chairman and Managing Director of ONGC Videsh Limited (OVL). Attending the meeting were also leaders of some ministries/ departments, commissions of the National Assembly and Mr. Nguyen Quoc Khanh, Chairman of the Board of Directors of Petrovietnam.

To our dearest friends and partners,Seasons come and seasons go. It is, indeed, almost time to say goodbye to the year 2016.

On 5 September 2016, PTSC M&C – EPCI Contractor, in coordination with Cuu Long JOC – the Operator, hosted the ceremony to celebrate the Load out and Sail away for the Topside Module 1 and Module 2 of Production Injection Platform (PIP) of the Su Tu Trang Full Field Development Project Phase 1 (STTFFD-P1) at PTSC M&C fabrication yard.

On 10th June, a delegation of high ranking officers led by Mr. Nguyen Ngoc Quang – Secretary of Quang Nam Communist Party’s Committee, Chairman of Quang Nam People’s Council and Mr. Phan Viet Cuong – Member of the Party Central Committee, Deputy Secretary of Quang Nam Communist Party’s Committee and representatives from Vietnam National Oil and Gas Group (PetroVietnam) and PetroVietnam Technical Services Corporation (PTSC) have visited and worked with PTSC Mechanical and Construction (PTSC M&C). This is, among other activities, to celebrate the 55th Traditional Day of Vietnam Oil and Gas Industry and accelerate full cooperation between PetroVietnam and Quang Nam Province.

On 14th May 2016, PTSC Mechanical & Construction (PTSC M&C) ceremonially held its 15th Anniversary in Vungtau City. It is an opportunity to honor the esteem generations of PTSC M&C’s leadership for their dedication to the development of the Company over the past 15 years.