Petrovietnam Marine Shipyard

Name

Petrovietnam Marine Shipyard

Legal name

Công ty Cổ phần Chế tạo Giàn khoan Dầu khí (PetroVietnam Marine Shipyard Joint Stock Company)

Website

https://pvshipyard.com.vn

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Offshore Structure Fabrication

NAICS

Ship Building and Repairing (336611), Ship and Boat Building (3366), Oil and Gas Field Machinery and Equipment Manufacturing (333132)

SIC

Ship & Boat Building & Repairing (3730), Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Marine & Offshore Wind BOP Construction (Foundations, Cables, Ports, Installation Support) (EUAMAFAI)

akta.pro secondary industries

Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Offshore Vessel Life Extension, Major Conversion & Rebuild (EPC/Integration) (IMAJACAJ), Offshore Wind & Renewable Support Vessel Construction (SOV, CTV, WTIV) (IMAJACAG)

Keywords

• Offshore structure fabrication
• Jack-up rig construction
• EPC offshore services
• HVDC platform fabrication
• Offshore wind steel structures

Headquarters

HQ city

Vung Tau

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Infrastructure, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. EPC Services: Engineering, Procurement and Construction services for offshore oil & gas and wind energy projects. Project-based contracts with duration ranging from months to years.
2. New Building: Construction of new vessels, barges, and offshore structures including jack-up rigs for domestic and international clients.
3. Repair & Conversion: Repair, upgrade, and conversion services for drilling rigs and offshore structures.
4. Port & Logistics Services: Logistics, port, and yard services supporting offshore operations.
5. Offshore Wind Steel Structures: Fabrication of steel structures for offshore wind projects including HVDC platforms and OSS components.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

PV Shipyard designs and fabricates offshore structures for the oil & gas and renewable energy sectors, including self-elevating jack-up drilling rigs, jackets, topsides, liftboats, HVDC platforms, and complete offshore substations. The company provides integrated EPC (Engineering, Procurement and Construction), new build, repair, conversion, port logistics, and energy module (PAR, PAU, E-House) services from its main yard in Vung Tau, Vietnam.

Product overview

Petrovietnam Marine Shipyard (PV Shipyard) is a Vietnamese shipbuilding and offshore fabrication company offering integrated services through five core business lines: EPC (Engineering, Procurement, Construction and Installation) covering topside, jacket, liftboat and jackup fabrication; New Built, Repair and Conversion services; Port and Logistics; Energy (PAR and PAU New Build); and E-House electrical module fabrication. The company has evolved from traditional oil and gas fabrication (notably the Tam Dao 03 and Tam Dao 05 jack-up rigs, Vietnam's first domestically manufactured offshore drilling rigs) into offshore wind energy, delivering HVDC steel structures and complete offshore substations (OSS) for international renewable energy projects. Notable products include jacket and topside fabrication (largest projects ~1,600 tons), feed barges (1,000-1,200 tons, capacity 25 units/year), and recent entry into European offshore wind HVDC markets with ~5,500-ton auxiliary structures per unit.

Differentiator

Problem solved

Functional benefit

Products and services

• EPC (Engineering, Procurement and Construction) Full-scope Engineering, Procurement and Construction services including fabrication of topside, jacket, liftboat, and jackup structures for offshore oil and gas as well as renewable energy projects, targeting oil & gas operators and offshore wind developers.
• New Built, Repair & Conversion Shipbuilding, repair, upgrading and conversion services for various types of offshore rigs and vessels, offered to drilling contractors and offshore operators.
• Port & Logistics Services Port operations, logistics support, and berthing services for vessels and offshore structures, supporting offshore project operations.
• Energy (PAR & PAU New Build) New construction of Production Accommodation Rigs (PAR) and Production Above-water Units (PAU) for offshore energy applications, serving oil & gas operators.
• E-House Electrical house/module fabrication and installation services for offshore platforms, providing integrated electrical infrastructure for offshore structures.
• Tam Dao 03 Jack-Up Rig Self-elevating drilling rig for 90-meter water depth, weighing approximately 12,000 tons with 145m leg length. Vietnam's first domestically manufactured 90m water depth jack-up rig, certified by ABS and based on Friede & Goldman JU-2000E design.
• Tam Dao 05 Jack-Up Rig Self-elevating drilling rig designed for 120-meter water depth, weighing over 18,000 tons with 167m hull length. Largest domestically designed and manufactured jack-up rig in Vietnam, based on Friede & Goldman JU-2000E design.
• Jacket and Topside Fabrication Fabrication of jackets and topsides for offshore platforms, serving oil & gas operators in domestic and international markets. Largest jacket project weighing approximately 1,600 tons; four jackets completed.
• Feed Barge New Build New construction of feed barges weighing 1,000-1,200 tons, serving offshore oil & gas operators. Company has capacity to build up to 25 units per year, with 7 barges completed.
• HVDC Offshore Wind Steel Structures High Voltage Direct Current (HVDC) auxiliary steel structures including Loadout Support Frames (LSF) and Skid Beams for European offshore wind substation projects, with total weight approximately 5,500 tons per unit. Fabricated for the TenneT/Seatrium Nederwiek Beta 2GW project in the North Sea.
• Offshore Substation (OSS) Fabrication Complete offshore substation fabrication including jacket foundation (~2,800 tons), piles (~2,700 tons), and topside (~3,500 tons) for offshore wind projects in the Taiwan Strait region, fabricated for Shinfox Far East (SFE).
• LSP Complex Project - Package B&C Construction and installation of Package B&C for the Long Son Oil Refinery (LSP Complex) project in Vietnam, serving the domestic refinery sector.

Quantifiable outcome

• 500,000 safe working hours with Zero LTI on HVDC project completed 75 days ahead of schedule
• +1 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core, minor and major.

• TenneTcoreStrategic or Co-development Partner · 14 August 2025Dutch grid operator and developer of the 2GW Nederwiek Beta HVDC offshore wind project in the North Sea. PV Shipyard serves as fabricator of auxiliary steel structures (Loadout Support Frame and Skid Beams) for the project. This marks PV Shipyard's first participation in the HVDC offshore wind supply chain.
• SeatriumcoreStrategic or Co-development Partner · 14 August 2025International EPC contractor and customer for the HVDC offshore wind steel structure project. Seatrium serves as the main contractor coordinating with PV Shipyard for fabrication of components for European offshore wind projects.
• Shipbuilding Industry Corporation (SBIC)minorStrategic or Co-development Partner · 14 August 2025State-owned shipbuilding corporation under Vietnamese government. Representatives attended the First Steel Cutting Ceremony for HVDC project, indicating industry collaboration.
• Shinfox Far East (SFE)majorChannel Partner/ Reseller/ Distributor · 31 August 2023Customer for offshore substation (OSS) fabrication project. PV Shipyard is fabricating complete OSS package including jacket, piles, and topside for offshore wind farm in Taiwan waters.
• VietsovpetrocoreStrategic or Co-development PartnerVietnam-Russia joint venture and investor/client for Tam Dao 03 and 05 self-elevating jack-up drilling rigs. Vietsovpetro is the investor while PV Shipyard serves as EPC contractor for these national key mechanical projects.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Seatrium: Singapore-based offshore rig and offshore wind structure fabricator (formed from Keppel O&M and Sembcorp Marine merger). Direct customer/partner on the TenneT Nederwiek Beta HVDC project and a direct competitor in jack-up rig and offshore wind substation fabrication.
• Bladt Industries: Danish fabricator of offshore wind foundations and substations, including HVDC platforms. Directly comparable on European offshore wind OSS and HVDC steel structure supply.
• EEW SPC: German specialist in monopile manufacturing for offshore wind. Relevant peer for large-diameter steel foundation fabrication serving European wind projects.
• Smulders: Belgian/Dutch offshore wind steel structure fabricator specializing in HVDC platforms, OSS jackets, and transition pieces. Closely comparable to PV Shipyard on TenneT/European HVDC supply chain work.
• Sif Group: Dutch manufacturer of monopiles and heavy steel foundations for offshore wind. Comparable as a dedicated offshore wind foundation fabricator supplying European developers.
• Kiewit Offshore Services: US-based offshore structure fabricator serving Gulf of Mexico and European offshore wind markets. Comparable for topside, jacket, and offshore wind steel structure fabrication.

Broad incumbents

• Damen Shipyards: Dutch shipbuilding group with offshore wind service vessel and structure fabrication capabilities. Comparable as a diversified European shipyard entering offshore wind fabrication.
• McDermott: Global offshore EPC contractor with integrated EPCI capabilities for offshore oil & gas and offshore wind structures. A broad incumbent offering overlapping topside, jacket, and substation fabrication services.
• Vard (Fincantieri): Norwegian-Italian offshore and specialized vessel builder (part of Fincantieri). Comparable for offshore vessel construction, rig repair/conversion, and offshore wind support vessel fabrication.

Regional players

• CSSC Haizhuang (Offshore Oil Engineering): Major Chinese offshore EPC and steel structure fabricator with growing offshore wind capabilities. Competes with PV Shipyard in Asian offshore wind tenders and from a lower-cost base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/pvshipyard.est2007
• LinkedInlinkedin.com/company/pvshipyard

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Petrovietnam Marine Shipyard