PETRO VIETNAM TECHNICAL SERVICES CORPORATION

PETRO VIETNAM TECHNICAL SERVICES CORPORATION, locally known as TỔNG CÔNG TY CỔ PHẦN DỊCH VỤ KỸ THUẬT DẦU KHÍ VIỆT NAM (PTSC), is a leading provider of technical services in Vietnam’s oil and gas, energy, and industrial sectors. Established in 2007, the company operates as a joint-stock enterprise with 51.38 percent of its shares owned by Vietnam Oil and Gas Group (PetroVietnam). Headquartered in Ho Chi Minh City, PTSC has branches in Da Nang, Ba Ria - Vung Tau, and Soc Trang, ensuring a nationwide presence to support Vietnam’s energy infrastructure.

According to Vanguard Business Information LLC (VBI), PTSC reported total assets of USD 1.09 billion in 2023, reflecting a 1.9 percent increase from the previous year. The company’s total sales grew significantly by 18.37 percent to USD 795.92 million, demonstrating strong demand for its technical and engineering services. However, profit growth slowed to just 0.89 percent, reaching USD 43.55 million, signaling rising operational costs or competitive pressures in the energy sector.

Legally, PTSC operates under Business ID 0100150577, with its Tax Identification Number (TIN) 0100150577. It is registered with the Ho Chi Minh City Department of Planning and Investment and is listed on the Hanoi Stock Exchange (HNX) under the stock symbol PVS. With a charter capital of USD 196.36 million and over 7,600 employees, PTSC is one of Vietnam’s most significant players in petroleum-related services.

Under the leadership of chairman Phan Thanh Tung and general director Le Manh Cuong, PTSC provides a wide range of services, including offshore oil platform maintenance, pipeline engineering, hazardous waste disposal, and energy infrastructure development. The company is also involved in electrical and construction installation, wholesale trade of industrial equipment, and logistics for petroleum operations.

Despite its strong financial standing and essential role in Vietnam’s energy sector, PTSC faces challenges related to global oil price volatility, increasing competition from international engineering firms, and the shift toward renewable energy sources. VBI’s market analysis suggests that PTSC must diversify its service offerings, invest in technological advancements, and expand into sustainable energy projects to maintain long-term competitiveness.

With Vietnam’s growing demand for energy infrastructure and oil and gas services, PTSC is well-positioned to remain a key industry player. However, future success will depend on its ability to navigate industry transitions, optimize cost efficiency, and leverage its state-backed ownership for strategic growth opportunities.