PTSC Sets Ambitious Revenue Target of 33,000 Billion VND, Accelerating for New Development Phase
At its 2026 Annual General Meeting, PetroVietnam Technical Services Corporation (PTSC, code: PVS) approved key plans with a target of consolidated revenue of 33,000 billion VND, focusing on strengthening governance foundations, enhancing contractor capabilities, and accelerating investment for a new development cycle.
Background and Strategic Vision
PTSC, a subsidiary of Vietnam National Oil and Gas Group (PetroVietnam), held its 2026 Annual General Meeting with participation from shareholders representing 95.7% of total voting shares. This important event marks a significant transition in the company's development strategy for the new phase.
In his opening address at the meeting, Mr. Nguyen Van Loc - Chairman of PTSC's Board of Directors emphasized: "The world is facing significant energy fluctuations, with a trend shifting toward renewable energy sources and reduced dependence on fossil fuels. In this context, PTSC has identified the need to restructure its operations, diversify business fields, and enhance competitiveness to capitalize on market opportunities."
Financial Targets and Strategic Direction
The meeting approved the 2026 business plan with the following key indicators:
- Consolidated revenue: 33,000 billion VND
- Consolidated after-tax profit: 3,500 billion VND
- Total assets: 65,000 billion VND
- Owner's equity: 22,000 billion VND
| Financial Indicator | 2025 (Actual) | 2026 (Target) | Growth (%) |
|---|---|---|---|
| Consolidated Revenue | 28,500 billion VND | 33,000 billion VND | 15.8% |
| After-Tax Profit | 2,800 billion VND | 3,500 billion VND | 25.0% |
| Total Assets | 58,000 billion VND | 65,000 billion VND | 12.1% |
Development Focus in Oil and Gas and Energy Sectors
PTSC has identified five main strategic pillars for the 2026-2030 period:
- Strengthening governance foundations: Improving organizational structure, enhancing corporate governance efficiency, and applying international standards.
- Enhancing contractor capabilities: Investing in modern technology, improving competitiveness in large domestic and international projects.
- Accelerating investment: Focusing on key projects in the oil and gas and industrial energy sectors.
- Preparing financial resources: Diversifying capital sources, optimizing debt structure, and strengthening financial capabilities.
- Human resource development: Building a high-quality workforce to meet international market requirements.
Investment and Development Strategy
In the oil and gas technical services sector, PTSC will focus on:
- Expanding international markets, particularly in Southeast Asia and the Middle East
- Investing in new technologies such as digital oilfield and automation
- Developing value-added services such as maintenance, repair, and upgrades
For the industrial energy sector, PTSC will:
- Participate in renewable energy projects such as wind power and solar power
- Develop LNG infrastructure and clean energy solutions
- Research and apply green hydrogen technology
Specific Investment Plans
The meeting approved the 2026 investment plan with a total of 5,200 billion VND, focusing on key projects:
| Investment Sector | Investment Amount (billion VND) | Proportion (%) | Expected Completion |
|---|---|---|---|
| Oil and Gas Technical Services | 2,800 | 53.8% | 2026-2027 |
| Industrial Energy | 1,500 | 28.8% | 2026-2028 |
| New Technologies | 900 | 17.3% | 2026-2027 |
Financial and Human Resource Preparation
To implement strategic objectives, PTSC has proposed financial and human resource solutions:
- Capital sources: Plans to raise capital through private share issuance, bonds, and strengthening cooperation with strategic partners
- Debt structure: Maintaining debt-to-equity ratio below 2.0 times and reducing interest costs
- Human resources: Training and developing a team of engineers and experts with international qualifications; attracting talent from global energy corporations
Conclusion and Outlook
PTSC's 2026 Annual General Meeting approved important strategic plans, marking a significant transition for the company amid significant changes in the global energy market. With a revenue target of 33,000 billion VND and substantial investment plans, PTSC expects to create momentum for a new development cycle, enhancing its position in the oil and gas technical services and industrial energy sectors.
According to Mr. Tran Minh Tuan - General Director of PTSC: "We clearly recognize the challenges but also see many opportunities from the global energy transition trend. PTSC will leverage existing strengths to develop sustainably, contribute to the development of Vietnam's oil and gas and industrial energy sectors, while enhancing competitiveness in the international market."