Company News

On 5 June 2017, PTSC M&C hosted various activities at its premise to respond to the World Environment Day (WED). With this campaign, the company aimed at raising its employees’ growing awareness of preserving ecosystems which contributes to increasing the quality of their living and working environment.

On 16th May 2017, PTSC M&C launched a kick-off meeting for its recently awarded Subsea StructureFabrication Package for the Greater Enfield Project at PTSC M&C’s premise in Vungtau City, S.R. Vietnam. This is part of the Greater Enfield Subsea EPCI project awarded to Technip (main contractor) in which PTSC M&C plays its role as a fabrication subcontractor.

On 22 April 2017, PTSC M&C signed the contract for the provision of design, engineering, procurement, fabrication, pre-commissioning, load-out, tie-down/sea-fastening service for the Daman Development Project (the Project) operated by Oil and Natural Gas Corporation Limited (ONGC) offshore India. The event was hosted in India, homeland of the Project, and was well-attended by board of management and staff from ONGC and PTSC M&C.

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.