What PTSC Production Services does

PTSC Production Services (PPS) is a Vung Tau-headquartered Vietnamese offshore oil and gas operations and maintenance services company, established in 2002 as a subsidiary of PTSC under the state-owned Petrovietnam group. The company's core offering centers on operations and maintenance of floating production systems, including FPSO (Floating Production Storage and Offloading), FSO (Floating Storage and Offloading), and MOPU (Mobile Offshore Production Unit) assets, alongside technical personnel supply, EPC (Engineering, Procurement, and Construction) services, and industrial equipment maintenance.

PPS delivers these services through a workforce of 504 certified technical personnel operating across a portfolio of flagship floating assets that includes FPSO PTSC Lam Son, FSO PTSC Biendong 01, FPSO Lewik Emas, FSO MV12, and WHP-DH01. Operational readiness is supported by ISM Code certification from Bureau Veritas and a recognized safety record, including a Zero Accident Award from LSP. The service model is contract-based and asset-anchored, with multi-year engagements tied to specific production units operated by both domestic Vietnamese clients (PVEP POC, Hoang Long, Thang Long, Hoang Vu, BSR/Dung Quat) and international operators (Idemitsu, Premier Oil/Harbour Energy, MODEC/KNOC, Rosneft Vietnam, Murphy Oil), as well as the adjacent petrochemical sector (Long Son Petrochemicals).

Reported financials show 2021 revenue of 830.48 billion VND and pre-tax profit of 62.21 billion VND, down from 907 billion VND and 77 billion VND respectively in 2020, with both years affected by COVID-19 disruption. PPS competes in a structurally narrow market defined by Vietnamese offshore regulatory and HSE requirements, with its parent-group affiliation providing preferential access to domestic tenders and long-term asset stewardship.

Name

PTSC Production Services

Legal name

CÔNG TY CỔ PHẦN DỊCH VỤ KHAI THÁC DẦU KHÍ PTSC

Website

https://ptscps.com.vn

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

501–1,000 employees

Short description

PTSC Production Services is a Vung Tau-based Vietnamese offshore oil and gas O&M services subsidiary of PTSC (PetroVietnam), delivering FPSO/FSO/MOPU operations and maintenance, EPC, and technical personnel supply to Vietnamese and international upstream operators.

Ownership category

akta.pro rank

Headquarters

HQ city

Vung Tau

HQ country

Vietnam

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Offshore FPSO/FSO/MOPU Operations & Maintenance Services: Long-term O&M service contracts for floating oil storage and offloading units (FPSO, FSO) and Mobile Offshore Production Units (MOPU). Revenue is earned through contractual service fees, periodic maintenance campaigns, and technical staffing provision.
2. Technical Personnel Supply (Cung ứng nhân lực kỹ thuật): Provision of skilled technical personnel for operations and maintenance of oil and gas facilities, charged as staffing services.
3. Design, Procurement, Fabrication and Construction Services: Engineering design, procurement, fabrication and construction services for oil and gas equipment and industrial facilities.
4. Industrial Equipment Repair and Maintenance Services: Maintenance and repair services for industrial equipment and structures, including static equipment, rotating equipment, electrical and automation systems.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

PPSC Production Services (PPS) provides operations and maintenance (O&M) services for offshore oil and gas facilities including FPSO, FSO, and MOPU vessels, alongside technical personnel supply, engineering/procurement/fabrication/construction (EPC) services, and industrial equipment repair and maintenance for petrochemical plants and refineries in Vietnam and Southeast Asia.

Product overview

PPSC Production Services (PPS) operates as a multi-service oil and gas operations and maintenance company offering a portfolio of integrated services organized around its core O&M capabilities. The primary offerings include Vận hành và Bảo dưỡng FPSO/FSO/MOPU (FPSO/FSO/MOPU Operations and Maintenance), which serves as the flagship service managing floating offshore oil and gas facilities; Cung ứng Nhân lực Kỹ thuật Vận hành và Bảo dưỡng (Technical Personnel Supply) providing skilled manpower; Dịch vụ Thiết kế, Mua sắm, Gia công, Chế tạo (EPC Services) for fabrication and construction; and Dịch vụ Sửa chữa Bảo dưỡng Thiết bị và Công trình Công nghiệp (Industrial Equipment Repair and Maintenance) covering static equipment, rotating machinery, electrical, and automation systems. Additional services span Vận hành và Bảo dưỡng Công trình Cố định trên Biển và trên Bờ (Fixed Offshore and Onshore Operations), Nhà máy và Công trình Công nghiệp (Refinery and Plant O&M), and specialized services such as valve maintenance and PSV calibration. The company also operates specific FPSO/FSO assets such as FSO MV12 under its portfolio.

Differentiator

Problem solved

Functional benefit

Products and services

• FPSO/FSO/MOPU Operations and Maintenance

Quantifiable outcome

• FSO MV12 successfully operated and maintained for MODEC/KNOC with 300,000 bbls storage capacity
• +3 more outcomes

Named customers13 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core.

• Long Son Petrochemicals Co., Ltd. (LSP)coreStrategic or Co-development Partner · 2 April 2025PPS and Long Son Petrochemicals Co., Ltd. signed an O&M service contract for the upstream plant of the Long Son Petrochemical Refinery. PPS provides operations and maintenance services for LSP's petrochemical facility. LSP recognized PPS with a Zero Accident Award in 2025.
• PVMTC (PetroVietnam Maintenance & Repair Company)coreStrategic or Co-development Partner · 16 September 2020Joint venture consortium (Liên danh) between PPS and PVMTC for turnaround maintenance services at the Binh Son Refinery (BSR/Dung Quat). Successfully completed Package 6 - valve maintenance (BDTT round 4) 3 days ahead of schedule. Jointly delivered valve maintenance for 1,472 valves including 690 safety valves, 430 control valves, and 352 manual valves.
• MODEC / Korean National Oil Corporation (KNOC)coreStrategic or Co-development PartnerPPS provides O&M manpower services for FSO MV12 operated by MODEC/KNOC at Block 11-1 with 300,000 bbls storage capacity. PPS has also been engaged for the FSO MV17 project, affirming professional capabilities to international clients.
• MVOT (Malaysia Vietnam Offshore Terminal (L) Limited)coreStrategic or Co-development PartnerJoint venture between PTSC and MISC Berhad (Malaysia) operating FSO MVOT assets including FSO PTSC Biendong 01. PPS provides O&M services for the floating storage units under this JV structure.
• Tổng công ty PTSC (PTSC Parent Company)coreStrategic or Co-development PartnerPPS is a subsidiary of PTSC (PetroVietnam Technical Services Corporation), Vietnam's largest oil and gas technical services company. PPS operates under the Petrovietnam ecosystem and receives strategic direction from PTSC management.
• Tập đoàn Dầu khí Quốc gia Việt Nam (Petrovietnam)coreStrategic or Co-development PartnerPPS operates within the Petrovietnam ecosystem as a subsidiary of PTSC, which is in turn under Petrovietnam. The company receives strategic guidance and oversight from Petrovietnam leadership, and participates in group-wide initiatives, awards, and youth/union programs organized by Petrovietnam.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Regional players

• Vallianz Holdings: Singapore-based offshore support vessel and oil and gas services provider active in the Middle East and Southeast Asia. Comparable regional peer in offshore vessel-based services supporting O&M activities.
• Sapura Energy: Malaysian integrated oil and gas services company covering offshore drilling, O&M, and energy services. Regional peer with overlapping offshore services capabilities and similar Southeast Asia customer base.
• Mermaid Maritime: Thailand-based offshore services company providing subsea, ROV, and O&M-related services to Southeast Asian E&P operators. Comparable regional peer serving similar offshore customer segments.

Broad incumbents

• Petrofac: UK-listed global energy services company offering operations, maintenance, and EPC services to oil and gas operators. Broad incumbent with overlapping O&M and turnaround maintenance capabilities serving similar enterprise customers.
• PTSC (PetroVietnam Technical Services Corporation): Parent company and Vietnam's largest oil and gas technical services provider, offering EPC, FSO/FPSO ownership, and O&M services. Broad incumbent that owns PPS and competes with it on adjacent scopes while providing strategic direction.

Direct peers

• SBM Offshore: Global leader in FPSO leasing, operations and maintenance. Directly comparable as a full-lifecycle FPSO O&M services provider competing for the same international and regional offshore contracts.
• Yinson Production: Malaysia-based FPSO provider and operator with active Southeast Asia exposure. Directly comparable as an FPSO operator competing for similar regional charters and O&M scopes.
• BW Offshore: Norway-headquartered global FPSO operator with strong Southeast Asia exposure. Directly comparable in core FPSO operations and O&M services for international and regional E&P clients.
• MODEC: Japanese FPSO charterer and operator; PPS provides O&M manpower to MODEC/KNOC on FSO MV12. Directly comparable in FPSO/FSO operations with overlap in Southeast Asia offshore basins.
• MISC Berhad: Malaysian FPSO/FSO owner-operator and one of PPS's joint-venture partners via MVOT (operating FSO PTSC Biendong 01). Directly comparable as a regional FPSO/FSO operator and offshore services provider serving Southeast Asian E&P customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ptscpps

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 PTSC Production Services