FPSO/FSO Supply, Operation & Maintenance
FPSO/FSO services are determined as PTSC’s long-term and stable strategy as the activities closely accompanying to the field exploration and production activities. Nevertheless, these services are complex to manage since FSO/FPSO’s operation & commissioning technique requires workmanlike and experienced manpower, the high total investment value and the fierce international competition environment.
Understanding the keen competition of such services, PTSC has developed and trained a high-skilled and qualified labor team who have not only performed the operation and maintenance, hook-up and commissioning of their own FSO/FPSO but also have performed contracts for provision of O&M services and received high appreciation from the clients.
Presently, five (05) FPO/FPSO wholly owned and jointly owned ranked PTSC as a leading oil and gas company in mastering management technology, operation and maintenance, hook-up and commissioning fleet of FSO/FPSO (especially FPSO).
Core services:
- Supply and delivery FSO/FPSO system including management, operation and maintenance, hook-up and commissioning services;
- Supply high technical manpower for FSO/FPSO services.
In 2010, PTSC has managed the FPSO Ruby Princess safely, maintained the optimal stable operation duration nearly100% uptime until she has been sailed and anchored in Vung Tau on 23 June 2010. She was successfully put in the sale offer and was delivered to the successful bidder on 27 September 2010 with the sale offer value double the starting price.
PTSC has completed the installation, hook up and operation of FPSO Ruby II at Pearl field, receiving the first oil since 12 June 2010; new-built and fabrication of FSO Bach Ho, put into operation and receiving first oil since 08 November 2010; meeting the stringent requirements of Clients.
Other achievements: well performed the provision of O&M services for the MV12, FPSO TBVN, FSO Orkid, FPSO Ruby II; studied and searched for as well as closely coordinated with experienced partners to prepare tender documents and proposed technical solutions for FSO/FPSO projects for Bien Dong POC, Lam Son JOC, Chevron… and firstly obtained several achievements in such service.
The total revenue of FPSO/FSO in 2010 is 198 billion VND, equivalent to 104% of yearly planning, reducing 32% compared with the last year’s. The reason is that the revenue is only sourced from the operation of bare boat service of Ruby Princess; whereas the rest bare boat service of other FSO/FPSO was incorporated into joint venture’s accounting system, not into consolidated revenue of PTSC. Otherwise, the consolidated revenue in 2010 has reached 290 billion VND, equivalent to 142% compared with the last year’s.