A TWO-YEAR MARATHON JOURNEY

No.1 - 2013
BD 1 PROJECT
A TWO-YEAR MARATHON JOURNEY
Page 6
HAI SU TRANG / HAI SU DEN PROJECT
ACHIEVED 1,000,000 MANHOURS
WITHOUT ANY LOST TIME INCIDENTS
Page 8
SU TU TRANG PROJECT
OBTAINED ITS FIRST GAS
AHEAD OF SCHEDULE Page 9
PTSC M&CTOP 500 LARGEST VIETNAM ENTERPRISES
Page 15
The Bien Dong 1 (BD1) Project is an EPCI turnkey project awarded to
PTSC M&C by Bien Dong Petroleum Operating Company (Bien Dong
POC). This is the first and greatest offshore project ever performed by
a Vietnamese local contractor, opening up new horizons for the Vietnam oil & gas industry in the future especially at the water depth of
over 133 meters.
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MANAGEMENT MESSAGE
8
BD1 Project –
A two-year marathon journey
9
Left to right: Mr. Tran Minh Tam- Deputy Director; Mr. Tran Thien Le - Deputy Director; Mr. Nguyen Quang Hieu - Deputy
Director; Mr. Dong Xuan Thang - Director; Mr. Bui Hoang Diep - Deputy Director; Mr. Tran Duc Thang - Deputy Director
Su Tu Trang Project obtained its First Gas
ahead of schedule
10
HST/HSD Project achieved 1,000,000
manhours without any lost time incidents
Upgrading RongDoi Booster Compressor
Dear Readers,
2012 is the year of Dragon which is traditionally characterized by luck, strength and
prosperity. However as it turns out, 2012 is
a tumultuous year to Vietnam’s economy:
the property market was frozen, stock
prices dipped sharply to some of the lowest
levels ever and the banking industry experienced unexpected turbulence. The future
is indeed never certain.
If there is any lesson learned from these
difficult time, we believe it is a realization
that quick money does not last and longterm successes do require skill, hard work
and resilience even though lucks certainly
have some says. At PTSC M&C, 2012 is the
year full of events to us: we were negatively
affected by the economic slow-down; the
delay of few of our important forecasted
projects forced us to downsize our workforce, an unforgettable and painful experience to our management and employees.
On the bright side, the solid foundation in
terms of experience and competency built
through years of hard-work and dedication
has helped us navigate through the rough
water. In 2012 we successfully offshore
installed and handed over three strategically important projects to our clients,
among them is the prestigious and national
Bien Dong 1 Central Processing Platform.
Financially in 2012 we recorded the highest
revenue and profit figures since the company was founded and PTSC M&C was ranked
67th amongst 500 largest enterprises, up
38 positions compared to 2011.
Our sphere of action in 2013 is to continue
to maintain the focus on providing cuttingedge EPCI/EPCIC services for oil and gas
offshore projects. In addition, on the front
lines, we will keep boosting our response
to the regional markets by collaborating
with leading clients and partners in such
countries as Australia, India, Myanmar,
Malaysia and some other countries in the
region.
11
PTSC M&C was awarded
Dua Subsea Development Project
12
Petroleum Management Unit (Petronas) carried out a
capability audit at PTSC M&C fabrication yard
”In 2012 we successfully offshore installed and handed
over three strategically important projects to our clients”
We also understand that no one is successful on his own, the achievements and milestones we have completed today would
not be possible without the cooperation,
support and understanding from Clients,
partners, related parties and friends. Management and employees of PTSC M&C
would like to express our deepest thanks
and appreciation to all of you, we wish you
a new year ahead full of successes, good
health and lucks.
Gazprom’s visit to PTSC M&C
Finally, we hope you enjoy this newsletter.
Your feedback or comments, as always, are
appreciated.
From Board of Director, PTSC M&C
05
13
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PTSC M&C was ranked 67th amongst
top 500 largest Vietnam enterprises
BD1 PROJECT - A TWO-YEAR MARATHON JOURNEY
The BienDong1 Project has achieved
more than 10,274,209 man-hours
without any lost time injuries
06
In October 2012, PQP Topsides –
the most technically complicated
and vital part of the Bien Dong 1
Project left PTSC M&C’s fabrication yard and en route to its location offshore Vietnam, marking
an important milestone for the
Project after a 2-year marathon
journey.
The Bien Dong 1 (BD1) Project is
an EPCI turnkey project awarded
to PTSC M&C by Bien Dong
Petroleum Operating Company
(Bien Dong POC). This is the first
and biggest offshore project ever
performed by a Vietnamese local
contractor, opening up new horizons for the Vietnam oil & gas
construction industry in the future
as well as proving the capability in
provision of EPCI services of Vietnamese local contractors.
To acknowledge and honor the
contribution of company employees to the successful completion
of the fabrication and pre-commissioning work for the PQP-HT
Topside, during the period of two
(02) days from 13th to 14th October 2012, PTSC M&C celebrated a
team building event at Vung Tau
City. At this momentous event,
those individuals who have excelled themselves in the “Run-ToTarget” campaign launched by the
company were awarded for their
outstanding services extended to
the BD1 Project.
As at October 2012, the offshore
installation campaign of the PQPHT Topsides was also successfully
completed by float-over operation.
Statistically, the BD1 Project has
achieved more than 10,274,209
man-hours without any lost time
injuries, which is a lively testimony
of the coordinated effort made by
Bien Dong POC and PTSC M&C.
The scope of work of the whole
BD1 Project encompasses the
engineering, procurement, construction, installation, offshore
hook-up support for 01 Central
Processing Platform (PQP-HT)
(including a 70-person-on-board
living quarter); 02 Wellhead Platforms namely Hai Thach 1 (HT1)
and Moc Tinh 1 (MT1), 03 jackets
(PQP-HT, WHP-MT1 and WHPHT1); 01 Link Bridge of which the
total weight of facilities is approximately 60,000MT coupled with
70km pipelines and 21km subsea
cables. So far, this project has been
considered as one of the most
technically complicated offshore
projects in Vietnam.
07
SU TU TRANG PROJECT OBTAINED
ITS FIRST GAS AHEAD OF SCHEDULE
On 15th November 2012, at PetroVietnam Head Office in Ha
Noi City, Cuu Long Joint Operating Company celebrated the
First Gas Ceremony of the Su Tu Trang Project in block 15-1,
offshore Vietnam.
Hai Su Trang/Hai Su Den Project
achieved 1,000,000 manhours
without any lost time incidents
On 7th September 2012, Thang Long JOC and PTSC M&C celebrated
the Health Safety and Environment Day to acknowledge the turning
point of Hai Su Trang/Hai Su Den project upon achieving the target of
1 million man-hours without any LTI.
The celebration is, more importantly, an indicator of the commitment shown by PTSC
M&C so far in delivering this project safely.
The achievement of 1 million man-hours
was built upon the strong foundation of
professionalism and support of Thang
Long JOC’s, PTSC M&C’s management
and workforce. This reinforces the strong
relationship that exists between these two
companies and sets in place a foundation to grow and develop this cooperation
spirit.
08
Till date, the offshore installation campaign
for Hai Su Trang and Hai Su Den Jackets
and Pipelines was completed. In addition,
the pre-commissioning and commissioning work for Hai Su Trang and Hai Su Den
Topsides was initiated and scheduled for
completion in March 2013. PTSC M&C is in
the process of doing the T&I engineering
for two topsides supporting the installation
campaign commencement in March 2013.
Simultaneously, all procedure/ equipment
for Hook-up and Commissioning (HUC)
work is being prepared, ready for HUC
schedule in April 2013.
in September 1998, exploration and
production activities in the Block 15.1
have been implemented efficiently
with 230 million barrels of oil and 684
million cubic meters of gas produced
so far.
Having attended the ceremony
were there representatives of the
Government Office, Ministry of
Industry and Trade, Ministry of
Planning and Investment, PetroVietnam, PetroVietnam Exploration and Production Corporation
(PVEP) CLJOC’s partners, PTSC
Mechanical and Construction
(PTSC M&C) as well as other
subcontractors.
Block 15.1 in Cuu Long Basin
offshore Vietnam is evaluated
as one of the best potential
prospects in Vietnam. Since the
Petroleum Contract was signed
09
Su Tu Trang is amongst four discoveries of Cuu Long JOC under the
Petroleum Contract in block 15.1.
In March 2010, the EPCI contract to
build Su Tu Trang Wellhead Platform
was awarded to PTSC M&C as a
prime EPCI contractor. Although Su
Tu Trang is not a challenging project
in terms of schedule, it is however
an EPCI project that required high
technical standards and stringent
construction requirements. In order
to preserve the quality and schedule
of the Project, PTSC M&C utilized
existing fabrication yards, took advantages of advanced technology as
well as mobilized a strong resource
of 750 workers and engineers who
dedicated their utmost efforts to
contribute to the successful completion of the project, achieving approx.
2,300,000 man-hours without any
lost time injury.
At the First Gas Ceremony, Mr.
Franck Poli, President of Perenco
Company, a partner of Cuu Long
JOC emphasized that the success
of the Su Tu Trang Project could be
measured by the skills and dedication of the CLJOC employees and
Partners’ seconded personnel in
CLJOC, and the contribution and
support of all stakeholders including
the Government of Vietnam, Ministries, PetroVietnam, Partners, the
EPCI prime contractor PTSC M&C
as well as other subcontractors and
suppliers. He also believed that the
Su Tu Trang Long Term Production
Test (LTPT) program could provide
assurance of commercial quantities
of hydrocarbons that could be developed to supplement the national
energy demand.
PTSC M&C WAS AWARDED
DUA SUBSEA DEVELOPMENT PROJECT
UPGRADING RONG DOI
BOOSTER COMPRESSOR
Rong Doi Booster Compressor is one of the projects developed
by Korean National Oil Corporation (KNOC) to upgradeits existing platform in block 11-2located 320km offshore Vietnam.
PTSC M&C was subcontracted by
its sister company – PTSC Offshore
Services (PTSC OS) the scope of detailed engineering, procurement and
construction (EPC) for the Discharge
Cooler and Booster Compressor
systemweighing approximately 600
tons. The key functions of these systems lie in their capability to enhance
the pressure in gas pipeline from
Rong Doi Well Head Platform to
Nam Con Son Gas Pipeline.
spirit and zeal to successfully complete the project without any lost time
incidents. Accordingly, the production
target has been achieved since October 2012. As reported by KNOC, the
recoverable volume of this block is 753
billion standard cubic feet and production will continue by 2024.
In September 2012, PTSC
M&C was awarded the Dua
Subsea Development Project (Project) by Premier Oil
Offshore Vietnam (POVO).
The contract values approximately 58 million US dollars.
The team formed by KNOC, PTSC
OS, PTSC M&C and other subcontractors worked with the cooperative
10
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Located in the Chim Sao - Dua Field,
block 12W offshore Vietnam, the
Project relates to the development of
the Dua subsea field as a subsea tieback to the Lewek EMAS FPSO. The
Project work-scope comprises installation and construction engineering,
onshore fabrication, procurement,
construction, load-out, transportation, offshore installation, hook-up,
pre-commissioning, commissioning
assistance of the buckle triggers,
PLEM, Twin Pipeline Active Manifold
(TPAM), 17 km of dual 10’’ flowlines,
flexible risers, umbilical and associ-
ated subsea facilities.
Currently, the Project is being wellperformed ensuring good quality.
The onshore work carried out by
PTSC M&C is ahead of schedule;
particularly, the buckle triggers were
completed 3 weeks in advance and
are now ready for the 1st offshore
installation campaign in February
2013. The team of PTSC M&C and
Premier Oil employees are making
great attempt to prepare for the 2nd
offshore campaign in May 2013.
PETROLEUM MANAGEMENT UNIT (PETRONAS)
GAZPROM’S VISIT TO PTSC
CARRIED OUT A CAPABILITY SURVEY
From 7th August to 8th August 2012 the delegation from
Petronas Carigali Sdn Bhd of Malaysia, led by Mr. Zainuddin Kamarudin, General Manager paid a 2-day visit to PTSC
M&C as part of its capability audit to update its bidder list for
future projects.
Mr. Zainuddin Kamarudin, General
Manager of Petronas Carigali Malaysia
After the site tour at the fabrication yard and auditing PTSC M&C’s
current capability, the Petronas team
highly appreciated PTSC M&C’s experience and infra-structure. In the
meeting, Mr. Zainuddin Kamarudin
highlighted on the business expansion plans of Petronas Carigali Sdn
Bhd in South East Asia and Vietnam
is considered as one of the potential
markets in which Petronas will further develop their business opportunities in the oil and gas exploration and production segment.
Since 2004, PTSC M&C has provided Petronas with optimum solutions to build its offshore complex
12
As part of the agreement jointly made by Gazprom and PetroVietnam, the
delegation from Gazprom paid a working visit to PetroVietnam’s subsidiaries from 10th to 21st October 2012 with the aim of having a better
understanding about Vietnam’s oil & gas industry. On 18th October, the
delegation was warmly received by representatives from PTSC Headquarter and PTSC M&C Board of Management.
projects in Vietnam such as Ruby
A Expansion, Ruby-B, PLDP-A and
Topaz.The successful completion
of these projects is an indicator of
the effective cooperation between
Petronas and PTSC M&C. It also sets
in place a foundation to strengthen
and develop the business relationship which has been built up so far.
Gazprom is one of the giant
global energy companies
specialized in geological
exploration, production,
transportation, storage
processing and sales of
gas, gas condensate and
oil. Currently, Gazprom is
holding the world’s largest
natural gas reserves. It has
also partnered with PetroVietnam on a natural gas
project in block 05.2 and
05.3 offshore Vietnam.
Being evaluated as a leading EPCI
contractor in Vietnam, PTSC M&C
expressed its interest in having more
opportunities to offer comprehensive EPCI services to Petronas and
make a positive contribution to
Petronas sustainable development in
Vietnam and region.
In an effort to give
Gazprom’s delegation an
insight into the techni13
cal services provided by
PTSC, PTSC gave a detailed
presentation about its
core services as well as its
capability. Both parties had
an open and fruitful discussion about each company’s
sustainable development
strategy and the potentiality of cooperation.
After the constructive
discussion, the delegation
visited PTSC’s workshops
and observed major projects being carried out at
PTSC’s fabrication yard.
Gazprom expressed their im
pression on the business
growth of PTSC as well the
experience levels it has
achieved in Vietnam to date.
Besides the delegation also
sent the sincere thanks to
the hospitality of PTSC and
its subsidiaries dedicated to
the delegation during their
visit in Vietnam and believed
that the spirit of friendship
and cooperation between
these two parties would
remain strong.
PTSC M&C was ranked 67th ­amongst
top 500 largest Vietnam enterprises
On 11th December 2012, PTSC M&C
was delightfully announced to be
ranked 67th amongst top 500 largest
Viet Nam enterprises.
Mr. Tran Thien Le, Deputy Director, received the
Merit Certificate of Top 500 Vietnam largest
enterprises
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The achievements were thanks to the
tireless endeavors of the company
Board of management and dedicated
employees who have strived daily
in pursuit of work and made great
attempt to navigate the company
business through challenging waves
caused by the vulnerable economy
and stiff competition of the world
players in the oil and gas segment.
ones with high revenue are selected; accordingly, 500 largest enterprises are shortlisted. PTSC M&C
has been officially listed in the top
500 Vietnam largest Enterprises
since 2010 in which the company
was ranked 115th. Improvement
was made in 2011 and 2012 when
our position is increased to 105th
and 67th respectively.
Top 500 Vietnam Largest Enterprises
by revenue ranking is being conducted under the model of Fortune 500
which is in accordance with international standards. Amongst 300,000
Vietnamese enterprises, top 5,000
At the top of the ranking is PetroVietnam which was ranked No.1 since
the first launch of the rating program. PTSC M&C’s Parent company
(PTSC Corporation) stood at No.26
in the list.
PTSC M&C Newsletter, No. 1, 2013
Edited and designed by Business Development Department
PTSC Mechanical and Construction JSC
No. 31, 30/4 Street, Ward 9, Vungtau City, SR Vietnam
Tel: (84) 643 838 834 - Fax: (84) 643 838 170
Website: mc.ptsc.com.vn