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PetroVietnam unveils new oil survey branch

Update: January, 17/2012 - 10:26

HA NOI — PetroVietnam Technical Services Corporation (PTSC) unveiled a new company branch yesterday which specialises in geophysical exploration services for the oil and gas industry.

The new branch, a 51 per cent and 49 per cent joint venture between PTSC and CGG Veritas (CGGV), provides 2D&3D (two dimensional and three dimensional) seismic acquisition services.

The joint venture will operate for 20 years, according to PTSC, a subsidiary of Viet Nam's leading oil and gas company PetroVietnam.

The company said the joint venture would help it provide full technical services packages for petroleum exploration and development in Viet Nam as well as in the regional market.

PTSC, which owns VND17 trillion (US$809 million) in total assets and employs 9,000 personnel nation-wide, provides diversified technical services for the oil and gas industry inside and outside Viet Nam.

Headquartered in Paris, the 79 year old CGGV boasts 50 years of seismic survey services in Viet Nam. — VNS

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