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If the Block B project really enters the peak implementation phase, will this be a rare opportunity to create a multi-year wave of growth for the entire Vietnamese oil and gas service industry like the boom period of previous oil and gas megaprojects?
On June 8, 2026, PVD Logging Petroleum Well Geophysics Company Limited and Phu Quoc Petroleum Operating Company PQPOC officially signed a contract to provide Slickline services for the Block B gas and power project chain. Although it is only an in-depth technical contract, this event is attracting great attention from the energy world because it shows that the project has moved strongly from the preparation stage to actual implementation.
With a total investment capital of nearly 12 billion USD, equivalent to about 312,000 billion VND, Block B is not only a conventional oil and gas project but also one of the largest energy projects in Vietnam's history.
HUGE SCALE OF SUPER PROJECT LOT B
Value Category
Total investment capital: About 312,000 billion VND
Southwestern mining area of Vietnam
PQPOC operating unit
Value chainUpstream - Midstream - Downstream
Construction labor More than 4,000 people
Participating units PVN, PVD, PVD Logging, PVS, PTSC and many partners
Block B is designed as a complete energy ecosystem.
Offshore is a system of gas exploitation wells.
In the middle of the chain is a large-scale gas pipeline network.
Onshore are gas power plants that use this fuel source to generate electricity for the economy.
When the entire chain operates synchronously, the impact will spread to dozens of businesses in technical services, mechanical engineering, marine transportation, construction and energy project operations.
CENTRAL TECHNOLOGY RIG IS ACCELERATING DAY AND NIGHT
One of the most important items today is the central technology rig manufactured by PTSC M&C.
Value Indicator
Platform weight is 24,000 tons
Personnel involved: Over 4,000 people
Continuous construction progress
Role of gas processing and transportation center
The volume of steel is up to 24,000 tons, showing that this is the largest offshore project ever carried out in Vietnam.
Thousands of engineers, workers and experts are working continuously to ensure progress for the entire project chain.
WHAT CONTRACT HAS PVD LOGGING JUST SIGNED AND WHY IS IT IMPORTANT?
Slickline service is onein specialized technical activities serving inspection, maintenance and operation of wells.
In the oil and gas industry, when Slickline contracts start appearing, it is often a signal that the project is getting very close to the actual exploitation stage.
This means that investment capital is actually flowing into the field instead of just staying in plans on paper.
WHICH GROUP OF BUSINESSES ARE BENEFITING?
Business Role
PVD Drilling and well services
PVD Logging Geophysical and Slickline Services
PVS General oil and gas technical services
PTSC Manufacturing marine structures
PVN Coordinates the entire project chain
A notable point is that the group of technical service businesses often records revenue before commercial gas is exploited.
That is why the market is closely monitoring each new contract announced in the Block B project chain.
WHAT ARE THE BUSINESS RESULTS REFLECTING?
PTSC Indicator Value
Revenue: Nearly 8,700 billion VND
45% growth
Profit after tax is 435 billion VND
These numbers show that the demand for oil and gas technical services is clearly increasing as many offshore projects are simultaneously implemented.
This is also a positive signal for the entire domestic supply chain from mechanical manufacturing, logistics, etcclosely monitor geology to operate marine projects.
WHY IS THE MARKET ESPECIALLY INTERESTED IN LOT B?
Over the years, Block B has repeatedly faced concerns about progress.
However, in just a short time recently, a series of new contracts have been continuously signed, many large bidding packages have been implemented and key projects are being constructed with high intensity.
That shows that the project is entering a real acceleration phase.
If current progress is maintained, Block B will not only contribute to ensuring national energy security but can also create a new growth cycle for Vietnam's oil and gas industry for many years to come.
A project worth more than 312,000 billion VND not only has energy implications but can also become a driving force to promote thousands of high-tech jobs and a series of domestic supporting industrial enterprises.
In your opinion, when the Block B gas and electricity chain enters its peak period, will the business that will benefit more be PVD or PVS?
#LoB #PVD #PVS #PVDLogging #PTSC #PVN #PQPOC #KhiDienLoB #NangLuongVietNam #DauKhiVietNam #CongNgheDauKhi #AnNinhNangLuong #DauTuCongNghiep #TimKiemTop #VietnamEnergy #OilAndGas #NangLuongSach #HaTangNangLuong
