PTSC, Lam Son JOC Sign FPSO Deal for Thang Long - Dong Do Field

On May 24, 2012 at the head office of State-owned Vietnam National Oil and Gas Group (PetroVietnam), PetroVietnam Technical Services Corporation (PTSC) and Lam Son Joint Operating Company (Lam Son JOC) signed a deal to provide a floating production, storage and offloading (FPSO) unit for Thang Long - Dong Do oilfield development project.

 

Speaking at the signing ceremony, PetroVietnam General Director Do Van Hau stressed: “It is an enormous challenge for PTSC to take on a huge workload from contractor Fred Olsen with a deadline of 17 months. Like other FSO/FPSO projects PTSC has undertaken, with the latest being the FSO supply project for Bien Dong POC, difficulties and obstacles do not inhibit PTSC but foster its competency.”

 

PTSC General Director Nguyen Hung Dung said PTSC now supplies a lot of technical services for the oil and gas industry. The company has marked huge progress in operating, supplying FSO/FPSO units. FPSO vessel has the capacity to store 350,000 barrels of oil and process 18,000 barrels per day and can operate at the oil field for ten consecutive years. FPSO is the sixth of its kind deployed by PTSC.