Petrovietnam tech arm to set up Middle East branch

The Petrovietnam Technical Services Corp. (PTSC) has followed up winning a bid in Qatar by planning to set up a Middle East branch to better tap the oil-rich region.

A recent decision by the firm's board of directors approved the plan, but did not mention which country would be the location.

PTSC, a Petrovietnam arm, is one of the leading Vietnamese companies in marine mechanical engineering, procurement, construction and installation.

The PTSC Mechanical & Construction (PTSC M&C), a subsidiary, won an international bid in July 2021 to secure the Gallaf Batch 3-EPC 05 package in the Al Shaheen oil field offshore Qatar. The field has been invested in by the North Oil Company, a partnership between Qatar Petroleum and French giant Total.

In early 2021, PTSC M&C, the engineering, procurement, and construction (EPC) contractor for the project’s Gallaf Batch 1, delivered the finished package on schedule.

PTSC M&C has also gained trust from Vietnamese and foreign investors in oil rig engineering and construction.