PTSC granted the approval for conducting comprehensive surveys for an offshore wind farm project in Vietnam, aimed at facilitating the export of electricity to Singapore

On August 29, 2023 within the context of a state-level work program at the Government Office of Vietnam, witnessed by Vietnamese Prime Minister Pham Minh Chinh and Singaporean Prime Minister Lee Hsien Loong, Petrovietnam Technical Services Corporation (PTSC) was granted a Decision by Vietnam Ministry of Natural Resources and Environment (MONRE) to authorize wind, marine and geological surveys (the “Survey Permit”) for the offshore wind farm project (the “Project”) in the waters off  Ba Ria – Vung Tau province, anabling the export of electricity to Singapore. Concurrently, Sembcorp Utilities Pte Ltd (SCU), the strategic partner of PTSC on the Project, was presented with the Letter of Intent (LOI) from Ministry of Trade and Industry of Singapore (MTI) in order to secure the Conditional Approval for the import license of electricity from Vietnam.

Having received the aforementioned Decision, PTSC now stands as the first and only investor in Vietnam, duly permitted by MONRE, to comprehensively perform all survey activities related to monitoring, investigation, survey, and evaluation of maritime resources for the development of the Project. Accordingly, PTSC will initiate surveys in designated areas off the coast of Ba Ria - Vung Tau to collect the solid data required for next phases of the Project.

This event undoubtedly marked a significant milestone in commemorating the 50th anniversary of the establishment of diplomatic relations (1973-2023) and the 10th anniversary of the strategic partnership (2013-2023) between Vietnam and Singapore. The Project further contributes to the realization of the Memorandum of Understanding (MoU) on the green-digital economic partnership between the two nations. Previously, on February 10, 2023, PTSC and SCU had announced the Joint Development Agreement (JDA) for the collaborative investment and development of the Project. Notably, this announcement ceremony also distinguished itself as the only business cooperation event witnessed by the Prime Minister of Vietnam during his state visit to Singapore.

In addition to pursuing investment and development opportunities in the offshore renewable energy sector, PTSC also acts as the primary contractor for various phases of offshore renewable energy projects, including surveys, engineering, procurement, construction, transportation, installation and operation & maintenance (O&M) services. For the engineering, procurement and construction (EPC) services, PTSC is performing the contracts for ePC of foundations and offshore substations (OSS) for the European (Baltic Sea) and Taiwanese markets, catering to the leading global offshore renewable energy investors and developers. Among these is a significant project that involves the manufacturing and supply of 33 suction bucket jackets for a European client, using the state of art technology which is firstly implemented in the Asia-Pacific region. The total backlog of PTSC’s ePC offshore renewable energy contracts exceeds 1 billion USD.

Bui Thi My