Firm wins $35 million oil transport deal

The PetroVietnam Technical Services Co (PTSC) won two international tenders to provide an oil and gas vessel and services to Talisman Malaysia Co Ltd – Canada’s largest investor in Malaysia.

The two sides signed contracts totalling about US$35 million on Tuesday in Kuala Lumpur.

Under the deals, PTSC will supply a multi-functional DP2 Platform Supply Vessel to Talisman Malaysia and a “braided line” service.

PTSC director general Nguyen Hung Dung said the corporation had worked out solutions to provide the vessel with better technical functions at a cheaper price.

Deputy president of Talisman Malaysia Wee Yiaw Hin said PTSC played a significant role in the building and maintaining of project PM3-CAA and supported the enterprise’s operations well.

PM3-CAA is being implemented in the area between Viet Nam and Malaysia under an oil production sharing contract and the vessel will be used for this project.

This is the second time that PTSC has worked with Talisman Malaysia. Last December, PTSC won an international tender to supply a vessel to the partner for a total contract value of nearly $35 million.

“This is a significant event marking a turning point in the implementation of strategic development of core services of the corporation in the regional and global market, especially the new generation AHTS vessel, creating stable revenues and profits in the long term for PTSC,” the corporation reported.

Previously, the Vietnamese firm also won another international bid to supply a floating storage and offloading vessel, two service vessels and a multi-functional service vessel among others.

PTSC has exported a number of technical-service packages for the oil and gas industry in Malaysia with a total market value of hundreds of millions of US dollars, contributing significantly to its revenue, it stated.

Petroleum Technical Services Corporation (PTSC) is a member of the Viet Nam National Oil and Gas Group (PetroVietnam) providing diversified technical services for the oil and gas industry inside and outside Viet Nam with total assets of nearly $200 million and more than 4,000 employees.

Viet Nam News

Tags: PTSC, Talisman, The PetroVietnam Technical Services, Vietnam oil and gas