PTSC Exceeds All Governance Targets in First Half of 2026
In the first half of 2026, PetroVietnam Technical Services Corporation (PTSC) has achieved remarkable success by completing and surpassing numerous important governance targets. These accomplishments result from the decisive leadership of the PTSC Party Committee in integrating party development with production and business operations, while simultaneously maintaining safety standards and accelerating key projects.
Background and Notable Achievements
The first half of 2026 marks a significant milestone in PTSC's development journey. Under the close guidance of the Party Committee and the company's leadership, PTSC has not only met its planned targets but exceeded them in several key areas, solidifying its strong position within Vietnam's oil and gas industry.
Strategic Operational Direction
The PTSC Party Committee has clearly defined its operational direction for 2026, emphasizing the close integration of party development with production and business tasks. This approach is manifested through:
- Enhancing leadership and guidance of production and business activities
- Ensuring absolute labor safety and environmental protection
- Concentrating resources to accelerate key project timelines
- Improving corporate governance efficiency
Exceeded Performance Targets
According to the half-year summary report, PTSC has achieved impressive results across multiple important indicators:
| Indicator | Target | Achievement | Completion Rate |
|---|---|---|---|
| Revenue | 15,000 billion VND | 16,800 billion VND | 112% |
| Pre-tax Profit | 2,500 billion VND | 2,850 billion VND | 114% |
| New Contract Value | 20,000 billion VND | 22,500 billion VND | 112.5% |
| Equipment Utilization Rate | 85% | 88% | 103.5% |
Acceleration of Key Projects
During the first half of 2026, PTSC concentrated resources to expedite key projects while ensuring quality and absolute safety. Notable projects include:
- Oil and Gas Port Project in Cái Mép - Thị Vải: 95% of work completed, with expected operational launch in Q3/2026
- Dung Quát Refinery Upgrade Project: Phase 1 completed with 100% of work volume
- Nam Côn Sơn Oil and Gas Exploitation Project: Achieved 120% of planned output, significantly exceeding targets
- Vũng Tàu Oil and Gas Storage Terminal Project: Completed 2 months ahead of schedule
Safety Assurance Initiatives
PTSC consistently identifies safety as a critical factor in all operations. In the first half of the year, the corporation maintained an impressive record:
- Zero serious labor accidents
- Zero environmental incidents
- 100% of units met safety standards
- Successfully organized 15 training sessions on labor safety
Party Development and Human Resource Management
The PTSC Party Committee has effectively implemented party development work, closely linked with production and business operations. Notable activities in the first half of 2026 include:
| Activity Area | Results |
|---|---|
| Party Activities | 100% of party cells completed their tasks |
| Party Members with Excellent Performance | 95% of total party members |
| New Party Members Admitted | 15 members |
| Training and Development for Cadres | 120 cadres participated |
Plans for Second Half of 2026
Building on the achievements of the first half, PTSC has set targets for the second half of 2026 with the following key priorities:
- Continue accelerating key projects, particularly the Cái Mép - Thị Vải Oil and Gas Port Project
- Increase market share in the technical services sector for oil and gas
- Strengthen digital technology application in corporate governance
- Improve the quality of human resources, especially specialized technical teams
- Enhance international cooperation to expand market reach
Sustainable Development Policy
PTSC identifies sustainable development as its long-term strategic direction. In the second half of 2026, the corporation will focus on:
- Minimizing environmental impact across all operations
- Applying renewable energy in production processes
- Promoting circular economy initiatives
- Investing in green technologies
Conclusion
The results of the first half of 2026 have affirmed PTSC's sustainable development under the leadership of the Party Committee and the company's management team. With the achievements accomplished and a clear direction, PTSC is confident of successfully completing all targets set for 2026, contributing to the overall development of Vietnam's oil and gas industry.
Source: PetroVietnam Technical Services Corporation