As a leading pioneering brand of oil and gas technical services, in the past 20 years, PetroVietnam Technical Services Corporation (PTSC) has made important contributions to the development of the Vietnam National Oil and Gas Group (PetroVietnam). PTSC’s technical services for oil and gas exploration and exploitation on the continental shelf of Vietnam are always profitable. The corporation has paid trillions of Vietnamese dong to the State Budget and contributed greatly to the economic development of the country and the sustainable development of the oil and gas industry. To learn more about PTSC’s services and achievements in recent years, Vietnam Business Forum interviewed PTSC’s CEO Phan Thanh Tung, a dynamic, young and enthusiastic leader. Anh Dao reports.
Could you briefly introduce PTSC’s production and business operations in the first six months of 2013? What are advantages PTSC needs to promote and disadvantages it needs to fix?
PTSC’s operations faced a lot of difficulties in the early months of 2013 because of domestic and international economic slowdown, tensions in the East Sea caused by foreign forces, fierce competition from powerful and well-protected oil and gas services companies in host countries.
However, with the unanimous solidarity from leaders from employees, PTSC Corporation still outdid its six-month business plan in 2013, featured by total consolidated revenue equal to 115 per cent of the plan and consolidated pre-tax profit equalling 178 per cent of the plan.
Named the “Labour hero in the renovation period” by the State, the PTSC brand name has been asserted not only in Vietnam but in other countries in the region. Apart from facility system from north to south to ensure multi-business operation, PTSC has also successfully trained a strong force of young, experienced, expert, dynamic and enthusiastic employees. They are a very valuable asset and a great advantage for PTSC to add effort to boost business operations to accomplish all tasks assigned by the General Meeting of Shareholders and the Vietnam National Oil and Gas Group (PetroVietnam).
As known PTSC has successfully undertaken many important oil and gas engineering projects invested by PetroVietnam? Would you be kind enough to introduce them?
PTSC is the multi-industry company engaged in six key services: marine vessel supply services; petroleum mechanical and construction services (performing EPC/EPCI/EPIC projects); seismic survey, GEO survey and subsea services and remote operated vehicle (ROV) services; FPSO/FSO services; supply base, ports and logistics services; and transportation, installation, hook up, operation and maintenance services.
Currently, PTSC’s core businesses are highly profitable. As for marine vessel services, PTSC is the first and only owner and operator of multifunctional specialised vessels for oil and gas exploration and exploration. The corporation is now operating 40 specialised vessels in Vietnam and some countries in the region. PTSC now provides some 90 per cent of specialised vessels for oil and gas exploration and exploitation in the continental shelf of Vietnam, occupying almost 100 per cent of market share of oil and gas specialised vessels and. The corporation is gradually expanding its services to other nations.
In petroleum mechanical and construction services, PTSC is the only unit in Vietnam able to design, procure, fabricate, install, hook up and test-run oil and gas exploration rigs. PTSC is taking the lead in EPCI (Engineering, Procurement, Construction and Installation) contracts. The firm has successfully fulfilled more than 50 EPCI projects, becoming a leading company of petroleum mechanical services not only in the country but also in the region. To date, the PTSC EPCI supply chain is gradually improved and perfected.
Besides, PTSC always focuses on promoting export of oil services to other nations. PTSC is also one of the first companies in Vietnam to export oil and gas engineering services to other countries. PTSC has successfully fulfilled many big technical services export contracts and joined hands with foreign partners to provide technical services on international markets, especially in Southeast Asian countries. Recently, PTSC has gradually expanded its markets to India, Russia, Cuba, Venezuela and other countries.
Could you tell us about the current status and potentiality of projects PTSC is calling for investment? What are the outstanding characteristics of these projects?
With the goal of sustainable development and endeavour to become one of three biggest oil and gas engineering service companies in Southeast Asia, PTSC is trying to attract investment capital from domestic and foreign investors, focusing primarily on three key areas: infrastructure investment (warehousing and port systems); equipment investment like FPSO/FSO vessels, service vessels, crane vessels, geological survey vessels, ROVs; and financial investment. PTSC’s typical projects calling for investment include:
- Services for construction and operation of Nghi Son oil refining and petrochemical complex and socioeconomic development in the region.
- Investment for expanding Hon La Port (Quang Binh province), building factories, cargo warehouses, machinery and equipment and supplies, improving service supply capacity
- Sao Mai – Ben Dinh petroleum services complex in Ba Ria – Vung Tau province
- Investments in FPSO/FSO vessel projects that PTSC builds or converts for oil and gas companies in the future.
- Investment for developing and upgrading its specialised petroleum service vessel fleet, especially multi-service vessels with tonnage of 3,000 – 10,000 HP.
- Investment in diving support vessels (DSV), remotely operated underwater vehicles (ROVs), DP2 survey vessels, geophysical vessels, 3D survey vessels.
- Investment in construction and installation multifunctional vessels
- Investments in PTSC shares (sticker PVS, Hanoi Stock Exchange – HNX).
If investors are interested in any projects, they can contact us at any time for further information.
How has PTSC outlined investment attraction strategies for the upcoming time?
Firstly, with our ultimate goal of sustainable development, we opt for investment projects with long-term stability, especially infrastructure and equipment investment for enhanced competitiveness and increased economic benefits for PTSC and investors. We also encourage long-term financial investment in PTSC’s financial institutions in Vietnam and in other nations.
Secondly, PTSC organises road-shows to introduce and attract potential investors. In 2010 and 2011, PTSC also joined with the Vietnam National Oil and Gas Group (PetroVietnam) to introduce investment projects to investors in Japan and South Korea. PTSC will continue to join and organise similar road-shows to draw investment capital in the future.
Thirdly, PTSC focuses on investors who are PTSC’s contractors, clients and partners or companies with powerful economic potential and certain understanding of human, brand and investment cooperation potential with PTSC.
With the intention of expanding investments in the future, you must have many messages to send to Japanese investors who are considered to be very prospective the partners for PTSC in particular and Vietnamese enterprises in general?
Vietnam and Japan have many similarities to human and culture, and the bilateral relations have been continuously cultivated, enriched and expanded in all aspects like economy, investment, education, culture and defence. This creates very favourable conditions for enterprises of the two nations to form and boost cooperation ties, particularly in oil and gas service sector.
PTSC itself also has built collaborative relationships with Japanese companies and organisations operating in various fields like JGC Company (petrochemical projects), Modec Company (FPSO/FSO vessels), BTMU Bank and SMBC Bank (financial investment, capital arrangement). Especially regarding ongoing construction of Nghi Son oil refinery and petrochemical complex in Thanh Hoa province, PTSC has been working very actively and effectively with Japanese partners (JGC Company, Chiyoda Company) to engage in the project. With that foundation, PTSC hopes to promote cooperation with traditional Japanese partners as well as brand-new contractors, investors and new partners from Japan.
Đăng ký: VietNam News
