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Petroleum services hit record high

Update: April, 04/2012 - 11:47

HA NOI – The National Petrol Oil and Gas Group (PVN) made a record VND207 trillion (US$9.8 billion), 30,8 per cent of its total turnover, in petroleum services during the first year of a 2011 - 2015 plan.

The figure was 25 to 30 per cent higher than the set target. Amongst subsidiary companies, Petrol Technical Services Corporation (PTSC) earned by far the highest of over VND29 trillion ($1.4 billion), a profit of VND1,9 trillion (approximately $100,000 million).

In order to achieve such a profit, PVN and its subsidiary companies established 20 dock warehouses, 15 mechanic factories, 8 drilling rigs and 13 surface godowns, amongst others, with a total asset value of VND140 trillion ($6,7).

Additionally, its labour force of over 50,000 allowed it success in projects such as operating 2D and 3D viscoelastic earthquake vessels along Viet Nam's continental shelf without foreign assistance.

This year, PVN has raised its petroleum service turnover target by 30 - 35 per cent. -VNS

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