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Oil service company buys US$20 million vessel   2009-10-14 - VOV

The PetroVietnam Technical Service Corp. (PTSC) has bought a US$20 million oil and gas service vessel produced by its Malaysian partner Nam Cheong Dockyard Snd. Bhd. 

A contract was signed to this effect by the two companies’ representatives in Ho Chi Minh City on October 13. 

The AHTS 8.080 BHP vessel, which is 65.5m in length, 16m in width and 6.5m in height, has a carrying capacity of 2,175 tonnes. 

According to PTSC, the multi-purpose service vessel is expected to be handed over to PTSC in Singapore on October 20. 

As an affiliate of the Vietnam National Oil and Gas Group (PetroVietnam), PTSC specialises in providing various types of technical services for the oil and gas industry. The corporation, which owns a fleet of nearly 20 vessels of all kinds, is now a leading provider of oil and gas services in Vietnam, occupying more than 90 percent of the country’s market share. 

With the purchase of Malaysia’s service vessel, PTSC hopes to have the biggest fleet of oil and gas service vessels in the Southeast Asian region. It also set a target of possessing over 100 vessels by 2025, thus controlling the domestic market and making up 30 percent of the region’s market share.

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