Ptsc Mechanical And Construction Limited Company (Vietnam)

As a member of Petro Vietnam Technical Services Corporation, the subject - PTSC M & C is currently the most capable General Contractor in Vietnam in performing all stages of Engineering, Procurement, Construction, Installation, and Commissioning (EPCIC) for upstream and downstream oil and gas development and exploitation as well as renewable energy projects. PTSC M & C has successfully implemented nearly 80 projects with a variety of components, including central processing rigs, wellhead rigs, marine housing areas, floating vehicle superstructure modules, and underwater constructions with many oil and gas projects of great scale and value both domestically and internationally such as Sao Vang - Dai Nguyet project for Idemitsu Kosan investor; Gallaf Batch 1 for North Oil Company (Qatar) Investor… In 2021, PTSC M & C continuously achieved impressive results in key service segments from target markets: With the traditional service segment of wellhead rigs, the subject was trusted to award the contract of general contractor for Gallaf Batch 3 project - EPCIC5 package in Qatar by North Oil Investor. It was also awarded a subcontract by General Contractor Daewoo Shipbuilding & Marine Engineering (South Korea) for the construction of the central technology base of the EPCIC6 package and the construction of the Shwe project's central technology base construction package in Myanmar for General Contractor Hyundai Heavy Industries (South Korea). In addition, PTSC M & C also marked an important milestone in the field of renewable energy services by entering into a priority agreement with its partner Semco Maritime to build 2 offshore substations under Hai Long 2 and Hai Long 3 wind power projects in Taiwan waters. In 2022, although there was not much impact from the Covid-19 pandemic, the complicated political and economic situation in the world continued to have negative effects on the Oil and Gas Industry in general and PTSC M & C privately. In the service sector, broken supply chain had not completely recovered, rising raw material and fuel prices and transportation costs had affected the economic efficiency of projects that PTSC M & C performing. However, PTSC M & C had successfully exceeded the set targets in 2022 (with estimated revenue of VND 6.45 trillion); ensuring the safe construction, progress, efficiency, and quality of the projects of SVDN, SHWE, Gallaf Batch 3 EPCI5, Gallaf Batch 3 EPCI6, Hai Long OSS, DBN PWM...In 2023, PTSC M&C continues to implement large projects. The joint venture between energy construction group Semco Maritime (Denmark) and PTSC M&C has agreed with PGE and Ørsted to design, produce, and operate the offshore transformer station for the Baltica 2 wind farm. This is the largest offshore wind power plant in the Polish part of the Baltic Sea. Besides, Copenhagen Infrastructure Partners (Denmark, CIP) has just signed a cooperation contract with the joint venture Semco Maritime and PTSC M&C. Accordingly, this joint venture will be selected as the priority supplier for the offshore transformer station item of the Fengmiao offshore wind power project invested by CIP in Taiwan (China). Most recently, on November 29, 2023, PTSC M & C has just been officially awarded the contract for EPCI#2 package to design, purchase, manufacture, and install gathering rigs/wellhead rigs and the intra-field pipeline system of the Block B - O Mon gas project chain.