On the afternoon of November 6^th, Deputy Minister of Ministry Science and Technology Tran Van Tung visited PetroVietnam Technical Services Corporation (PTSC), a member of the Vietnam National Oil and Gas Group (PetroVietnam)

On the afternoon of November 6^th, Deputy Minister of Ministry Science and Technology Tran Van Tung visited PetroVietnam Technical Services Corporation (PTSC), a member of the Vietnam National Oil and Gas Group (PetroVietnam)

At the meeting, PTSC Mechanical and Construction Co Ltd. (PTSC M&C)Director  Dong Xuan Thang brieflyintroducedthe Corporation’s key achievements. PTSCM&Chas successfully completed nearly 60 petroleum mechanical engineering projects at home and abroad with capacity up to 50,000 tons of structures/year. In 2014, total revenue reached11.500 billion Dong, pre-tax profit reached 490 billion Dong and total taxes and other payments to the state budget reached over 675 billion dong. Income per worker has increased to 16,2 million dong/month. The company is now employing more than 200 professional engineers.

PTSC M&C is one of the leading companies in the production and business activities of PTSC group. Starting as a mechanical company, the rapid technical develoments at PTSCM&C has enabled it to design its own petroleum mechanical and construction projects in recent years. Some of the projects includeHai Su Trang Den project; Thang Long Dong Do project; Su Tu Nau project; Su Tu Vang SouthWest project, Maharaja Lela South Project, Te Giac Trang H5 Project. Moving designing task from abroad to home has saved the company costs of outsourcing foreign design services and maintaining its own supervisors and design management teams at the subcontractors’ bases, estimated to be millions USD for each project.

Currently, PTSC M&C has fullcontrol of technologies, operation and construction for the most parts of onshore and offshore petroleum projectsasengineering work is performed in Vietnam. Project schedule is no longer passive and dependent as before. With the implementation and supervision resources in place,efficiencywere significantly improved by shortening project duration by nearly 40% and reducing construction waste from 15-20% to about 5%. These factors play an important role to make PTSC M&C a competitive tender in international petroleum projects.

PTSC M&C has won some important international tender projects. It serveddesign, procurement and construction services for HRD Process Platform project (ONGC/AFCONS) and Maharaja Lela South Project (Total Total E&P Borneo B.V).

The company is currently bidding to become international tender for several projects in Malaysia, India, Thailand, and Myanmar. Besides these traditional markets in Southeast Asia, PTSC M&C is also actively seeking for more opportunities in the Middle East markets such as Saudi Arabia, Qatar, and UAE.

Deputy Minister of Science and Technology Tran Van Tung praised the achievements of PTSC M&C for their successes. The Deputy Minister firmly believed that the company would continue to develop faster, especially in developing science and technology and investing in high quality human resource to yield high profit and benefit its workers.