PTSC: 60 Years of Growth and Synergy with PETROVIETNAM

On August 13, 1966, the General Department of Geology established the Seismic Geophysical Specialized Division. From this foundational unit, through numerous evolutions in name, organizational structure, and operational mandates, the historical lineage continued, laying the cornerstone for PTSC's subsequent formation and growth. August 13 thereby became PTSC's official Traditional Day.
Reflecting on the past 60 years, PTSC's trajectory has closely paralleled and reinforced every development milestone of PETROVIETNAM.
In the nascent stages, when the industry's focal mission centered on geological and geophysical surveys to detect initial hydrocarbon indicators, PTSC's predecessor workforce performed seismic and geophysical tasks. In 1973, Geophysical Division 36F was established through the consolidation of specialized electrical, gravity, and seismic survey teams. Following its transfer to the General Department of Oil and Gas in 1975, the entity was reorganized into the Geophysical Division and subsequently incorporated as the Geophysical Company in 1981. By 1989, as international petroleum contractors began directly participating in exploration in Vietnam, the company was restructured into the Geophysical and Petroleum Services Company (GPTS).

That era also marked PETROVIETNAM's entry into a dynamic new phase of growth. Progressing from onshore exploration and surveys, oil and gas operations pushed boldly onto the continental shelf. From the initial tons of crude oil extracted, PETROVIETNAM expanded exploration, appraisal, and field development, progressively building an integrated national petroleum industry. Technical services, therefore, had to advance in lockstep with this rapid expansion.
As operations moved further offshore and executed increasingly intricate projects, the demand escalated for offshore support vessels (OSVs), logistics supply bases, surveys, mechanical fabrication, offshore installation and operations, and floating storage units (FSO/FPSO). The fundamental challenge was not merely expanding services to support upstream activities, but fundamentally: to what extent could Vietnamese engineers and enterprises master and execute these complex operations?
That pressing question came into sharp focus in the early 1990s.
Building High-Quality Technical Service Capabilities
Recalling this pivotal period, Prof. Dr. Sc. Ho Si Thoang, former Chairman of the Board of Directors and President & CEO of Vietnam Oil and Gas Corporation (now Vietnam National Industry - Energy Group – PETROVIETNAM), underscored that PETROVIETNAM's expansion at that time was anchored in a major strategic orientation: developing PETROVIETNAM into a comprehensive, integrated petroleum enterprise in accordance with the spirit of Politburo Resolution 15.
Guided by this strategic roadmap, alongside developing exploration, production, refining, and commercial trading, a paramount requirement was to progressively build and master domestic petroleum technical service capabilities. Back then, "almost all petroleum technical services were executed by foreign contractors. This meant a substantial portion of expenditure under petroleum contracts was flowing abroad," Prof. Dr. Sc. Ho Si Thoang recalled.
Consequently, the strategy to build indigenous service capabilities was vigorously driven forward. On February 9, 1993, PTSC was formally established through the merger of the Geophysical and Petroleum Services Company (GPTS) and the Petroleum Services Company (PSC). Supported by the local authorities of Ba Ria - Vung Tau Province (and Ho Chi Minh City), PTSC subsequently established the necessary logistics and supply bases to fuel its step-by-step expansion.
 

The starting point was fraught with severe challenges. Constrained by scarce infrastructure, inadequate equipment, and limited service experience, PTSC had to simultaneously execute, learn, and invest to accumulate internal resources and expertise. From fundamental support services, the corporation progressively expanded into manufacturing, heavy fabrication, and high-spec engineering disciplines.
Through decades of capacity accumulation, PTSC evolved from delivering standalone service components to mastering integrated stages of offshore petroleum facilities—spanning survey, engineering design, procurement, fabrication, transportation, installation, hook-up, commissioning (EPC/EPCI), and operations & maintenance (O&M).
Today, PTSC's competence is reaffirmed through its central involvement in mega-energy developments such as Block B - O Mon and Lac Da Vang (Golden Camel), where it commands an increasingly vital role in EPC/EPCI contracting chains. The scale and engineering complexity of ongoing works demonstrate a transformed PTSC: a premier technical service provider equipped with full general contractor capabilities capable of delivering highly demanding engineering, procurement, construction, and installation packages.

Pioneering Strides into the New Energy Frontier
Leveraging the robust foundation built over decades in conventional oil and gas, PTSC is actively expanding into the offshore renewable energy sector.
At PTSC's fabrication yards, alongside traditional oil and gas modules, wind turbine foundations (jackets), offshore substation (OSS) topsides, and ultra-heavy structural components are manufactured for export to Taiwan (China), Europe, and various international markets. From fabricating 33 offshore wind turbine foundations for Ørsted to constructing offshore substations for Hai Long, Fengmiao, Formosa 4, and Baltica 2 projects, PTSC is embedding itself deeper into the global offshore energy supply chain.
The capabilities accumulated through offshore oil and gas facilities—spanning detailed engineering design, project management, procurement, heavy fabrication, marine logistics, and offshore installation—serve as the springboard propelling PTSC into the new energy era.
While the historical challenge was to master petroleum technical services on Vietnam's continental shelf, those competencies have now crystallized into high-value engineering products and services fully capable of competing on the global stage.
This elevated international standing serves as the clearest benchmark for PTSC's 60-year journey of establishment and development—a milestone intrinsically woven into PETROVIETNAM's 65-year legacy of growth.

PTSC has accompanied the sector from the days when geophysicists first probed underground for hydrocarbon signals; advanced alongside offshore campaigns, major upstream production projects, and the formation of the domestic technical services system; and continues to stand at the forefront as PETROVIETNAM expands its strategic operational space from oil and gas to an integrated industry and energy group, commemorating its 65th anniversary under the motto: "Preserving the Legacy of Fire – Pioneering National Energy".
Throughout this journey, the insight shared by Prof. Dr. Sc. Ho Si Thoang regarding a turning point more than three decades ago retains its full significance: "One must foresee future demands in order to prepare starting today."
PTSC in 2026 is the fruition of such forward-looking preparations nurtured across generations. As capabilities honed in oil and gas continue to empower new energy developments, this 60-year milestone does not merely reflect on past achievements, but actively prepares next-generation competencies for PETROVIETNAM's ongoing journey.