#PVS #PTSC #FSO #FPSO #LacDaVang #DauKhiVietNam #NangLuong #KhoNoi #DauTho #CongNgheDauKhi #KinhTeVietNam #Petrovietnam
In the offshore oil and gas industry, there are projects that are not just a ship, but a symbol of national industrial capacity. The official launch of the FSO PTSC LDV floating warehouse by PetroVietnam Technical Services Corporation in early February 2026 is such a milestone.
In the first quarter of 2026 alone, PVS recorded consolidated revenue of nearly VND 8,700 billion, a sharp increase over the same period. This shows that oil and gas technical services are still one of the fields with the highest profit margin and added value in the Vietnamese energy chain.
FSO PTSC LDV – "MOBILE OIL STORAGE" IN THE MIDDLE OF THE SEA
FSO (Floating Storage and Offloading) is a floating warehouse used to receive, store and export crude oil from offshore fields.
Outstanding parameters
Category Parameters
Tonnage More than 74,000 DWT
Oil storage capacity: Over 500,000 barrels
Design life of 20 years
Total safe working hours Nearly 2 million hours
Nantong StrongWind newbuilding factory, China
Exploitation goals of Camel Vang Mine
With a capacity of more than 500,000 barrels, FSO PTSC LDV is equivalent to storing about 79.5 million liters of crude oil - enough to operate many refineries continuously for many days.
⚙️ 2 MILLION SAFETY PUBLIC HOURS – NUMBERS SPEAK UP ON THE LEVEL OF MANAGEMENT
In the oil and gas industry, safety is a living standardstill.
Nearly 2 million hours of construction work without serious accidents proves:
1. HSE management system meets international standards.
2. Ability to coordinate thousands of engineers and workers.
3. Control mechanical, structural, electrical and fire protection risks.
4. Meet the strict requirements of offshore mine owners.
️ GOLDEN CAMEL MINE – STRATEGIC PROJECT OF VIETNAM CONTINENTAL SHEET
The Golden Camel Field is located off the coast of Vietnam and is one of the projects expected to contribute new oil sources to the country.
FSO PTSC LDV will:
* Receiving oil from exploitation wells.
* Preliminary separation and oil storage.
* Pumped to tankers for export.
* Continuous operation in harsh marine environments.
PVS's BREAKTHROUGH BUSINESS RESULTS
Quarter I/2026
Value Indicator
Consolidated revenue ~ 8,700 billion VND
Revenue growth +44%
Profit after tax growth +45%
FSO/FPSO segment revenue ~ 813 billion VND
On average every day in the first quarter, PVS generated approximately VND 96–97 billion in revenue.
WHY IS THE FSO/FPSO SECTION A "GOLD MINE" OF PVS?
FSO/FPSO is an array with the following characteristics:
* Long-term contract 5–20 years.
* Stable cash flow.
* High profit margin.
* Less volatile than short-term EPC segments.
This helps PVS maintain sustainable revenue even when oil prices fluctuate.
PVS' POSITION IN THE REGION
PetroVietnam Technical Services Corporation is currently the leading oil and gas service enterprise in Vietnam, competing with international corporations such as SBM Offshore, MODEC and Yinson Holdings Berhad in FSO/FPSO projects in Asia.
STRATEGIC SIGNIFICANCE FOR ENERGY SECURITYQUANTITY
FSO PTSC LDV is not only a technical asset but also:
* Increase the ability to exploit national resources.
* Ensuring budget revenue from oil and gas.
* Strengthen marine industry capacity.
* Expand opportunities to export petroleum technical services.
HOW BIG IS HALF A MILLION BARRELS?
Compare Equivalent Values
Oil storage 500,000 barrels
Convert ~79.5 million liters
Estimated volume: Tens of thousands of tons of oil
Value of goods (depending on oil price) Hundreds of millions of USD
OUTLOOK 2026–2030
Thanks to the development trend of projects such as Block B - O Mon, LNG gas and offshore exploitation, PVS is expected to continue expanding:
* EPC oil, gas and electricity.
* FSO/FPSO.
* O&M service.
* Offshore wind power.
CONCLUSION
FSO PTSC LDV floating warehouse is a testament to Vietnam's marine industrial capacity. A 74,000 DWT project, containing more than half a million barrels of oil, was completed with nearly 2 million safe man-hours and contributed to nearly VND 8,700 billion in revenue in the first quarter of 2026.
This is not only a success for PetroVietnam Technical Services Corporation, but also a symbol of Vietnam's desire to master offshore energy technology and services. ️
