PV GAS D: Well-established Brand Name

PV GAS D was set up to end the burning of excess gas, stabilise the demand and supply of gas from Bach Ho and Nam Con Son fields, improve the efficiency of collecting associated gas in Cuu Long Basin, reduce the risk of reliance on Nam Con Son supply, and serve the demand for low pressure gas in Phu My, My Xuan, Go Dau, Nhon Trach, Bien Hoa and other industrial parks while the supply of Vung Tau low pressure gas enterprise is limited. In its early days, PV GAS D only had Phu My - My Xuan - Go Dau low pressure gas distribution system (first phase) and five customers. Now, after 5 years of operation, the company is operating two low pressure gas distribution systems in Nhon Trach Industrial Park, Dong Nai province (first phase) and Hiep Phuoc Industrial Park, Ho Chi Minh City. Besides, it took over and operated Phu My - My Xuan - Go Dau low pressure gas distribution system (second phase) from PetroVietnam Gas Corporation (PV Gas), bringing total customers to 42.

 

With its strong actions, PV GAS D has so far captured and mastered technologies, self-decided in investment matters, and effectively operated and exploited low pressure gas distribution networks. In the past years, PV GAS D has always completed and exceeded its operating targets. Since its inception, the company supplied 1,741 million Sm3, accumulated revenue of VND7,931 billion, made total net profit of VND1,019 billion, and paid total taxes of VND517 billion. These impressive results are accrued from tireless efforts of all staffs of PV GAS D and reflect the strong growth of the PV GAS D in both quantity and quality despite numerous difficulties. And, this proved that PV GAS D, throughout its development process, has built and developed a low pressure gas distribution system powered by advanced technologies and modern equipment in Vietnam. This synchronous distribution system has actively contributed to the resoundingly proud success of Vietnamese low-pressure gas industry in Vietnam.

 

Operating in an industry characterised by advanced technology, strict safety and fire prevention requirements, the company always places a premium on safety. It was granted the certification for integrated safety - quality - environment management system by TUV Vietnam in accordance with ISO 9001: 2008, ISO 14001:2004 and OHSAS 18001:2007 for the first time in August 2008 and renewed the validity since then. Applying this system has helped PV GAS D’s lower pressure gas distribution system to operate continuously and safely. All system problems are handled promptly to make the interruption time shortest. Many technical innovations and management improvements were introduced effectively.

 

Explaining the power that makes today’s success, General Director Nguyen Van Son said PV GAS D is staffed by skilled, professional, competent and experienced employees systematically trained and drilled in professional business environment. They are shedding lustre on PV GAS D brand name on the market.

 

Basing on its achievements, in 2012, PV GAS D strives to produce 582.60 million cubic metres of gas, rake in VND4,312 billion of revenue, earn VND129 billion of profit, ensure return on equity ratio of 30 percent, and pay 20 percent of cash dividend. Regarding basic construction investment, in addition to ongoing projects in 2011, the company will invest over US$54.7 million to build a low pressure gas distribution system for Tien Hai Industrial Park, Thai Binh province, which is expected to be kicked off in the third quarter of 2012 and completed in September 2013. According to its development orientations, PV GAS D will continue studying the construction of low pressure gas distribution systems for new industrial parks in northern, central and southwest regions. In the next five years, PV GAS D will produce 3,311 million Sm3, attain total revenue of VND37,349 billion, make a net profit of VND787 billion, and pay VND583 billion to the State Budget.

 

Mr Son stressed: "The Third Grade Labour Order bestowed on PV GAS D not only asserts the trust of the Party, the State and the people in the company’s great contributions PV GAS D but also substantiates its important position on the joint journey with PetroVietnam Gas Corporation (PV Gas) and Vietnam National Oil and Gas Group (PetroVietnam) to reach the goal of “PetroVietnam is a symbol of Vietnamese pride.” In the next stage, PV GAS D will focus on promoting close cooperation with its partners to exploit and use resources on the principle of mutual benefit; strive to become a powerful publicly traded company; and play a leading role in low gas pressure supply in the country.