What Petrovietnam Construction Corp does

Petrovietnam Construction Corp (PETROCONS) is a Vietnamese state-owned general construction corporation operating under the Vietnam Oil and Gas Group (PetroVietnam/PVN). It provides end-to-end EPC (Engineering, Procurement, Construction) services covering oil and gas infrastructure, industrial facilities, power generation, civil construction, transportation infrastructure, and urban development. The company executes projects through a network of 16 wholly-owned subsidiary and affiliated companies spanning specialized construction, steel pipe fabrication, port operations, real estate development, and interior decoration, with no separate proprietary technology stack beyond conventional construction engineering know-how.

Core offerings include specialized oil and gas construction (oil storage tanks, LPG storage systems, pipelines), industrial manufacturing (steel pipes, polypropylene packaging materials at Dung Quất), power plant construction (notably Sông Hậu 1 and Thái Bình 2 thermal power plants), civil construction (Petroland residential complex in Ho Chi Minh City), and port/maritime infrastructure. PETROCONS built Vietnam's first straight-welded steel pipe manufacturing plant for the oil and gas industry and operates its own PVC-MS port facility with a 23-hectare yard and 246m berth, providing rare vertical integration for a regional EPC contractor.

The business model is project-based EPC contracting with government counterparties, primarily the parent PVN group. Revenue is generated through direct contracts with state-owned enterprises and government bodies, with pricing negotiated on a contract-by-contract basis and no publicly disclosed pricing structure. Customers include national energy infrastructure projects (Sông Hậu 1, Thái Bình 2 power plants), educational facilities (oil and gas vocational school in Vũng Tàu at ~98 billion VND), and urban real estate (Petroland). The company is registered as a Joint Stock Company (Cổ phần) structure but is fully government-owned through PVN with no public listing identified.

Name

Petrovietnam Construction Corp

Legal name

Tổng Công ty Cổ phần Xây lắp Dầu khí Việt Nam (PETROCONS)

Website

https://pvc.vn

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Petrovietnam Construction Corp (PETROCONS) is a Vietnamese state-owned EPC contractor under Vietnam Oil and Gas Group, providing engineering, procurement, and construction services for oil and gas infrastructure, thermal power plants, industrial facilities, civil construction, and port operations through 16 subsidiary companies in Vietnam.

Ownership category

akta.pro rank

Product category

Oil & Gas Construction Services (EPC)

NAICS

Engineering Services (541330)

akta.pro primary industry

Chemical & Petrochemical Plant Construction (IMAFADAA)

akta.pro secondary industry

Combined Cycle & Cogeneration (CHP) EPC (EUAEAAAB)

Keywords

• Oil gas construction
• EPC contracting services
• Industrial construction
• Civil construction
• Infrastructure development

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Distribution channels1 record

Marketing channels1 record

Core offering

Petrovietnam Construction Corp (PETROCONS) is a Vietnamese state-owned construction corporation delivering end-to-end EPC (Engineering, Procurement, Construction) services for oil and gas facilities, thermal power plants, industrial complexes, ports, and civil/infrastructure projects. The company also manufactures oil and gas storage tanks, LPG vessels, straight-welded steel pipes (Vietnam's first plant for the oil and gas industry), and polypropylene packaging. Operations are executed through 16 wholly-owned subsidiaries covering specialized oil and gas construction, pipe fabrication, port operations, mechanical assembly, urban development, and interior fit-out across Vietnam.

Product overview

PETROCONS is a general construction corporation offering specialized oil and gas construction services, industrial construction, civil construction, industrial manufacturing, transportation infrastructure, and infrastructure development. The company operates through its network of subsidiary companies covering specialized construction, urban development, pipe fabrication, industrial construction, and maritime port operations. Their core services include EPC (Engineering, Procurement, Construction) contracting for power plants, oil/gas storage tank fabrication, steel pipe manufacturing, and port construction.

Differentiator

Problem solved

Functional benefit

Products and services

• Oil and Gas Specialized Construction Services EPC (Engineering, Procurement, Construction) services for oil and gas infrastructure including oil storage tank systems, liquefied petroleum gas (LPG) storage systems, and pipeline construction. Targeted at oil and gas operators and state-owned energy enterprises in Vietnam.
• Industrial Construction (EPC) EPC construction services for industrial facilities including thermal power plants, manufacturing plants, oil and gas processing facilities, and industrial complexes. Targeted at industrial enterprises and government-backed energy projects in Vietnam.
• Civil Construction Services Construction of residential apartment complexes, commercial buildings, and housing projects. Targeted at real estate developers and urban development programs in Vietnam.
• Industrial Production / Manufacturing Industrial manufacturing operations producing oil and gas storage tanks, LPG vessels, straight-welded steel pipes for the oil and gas industry, and polypropylene packaging materials. Targeted at oil and gas operators, industrial manufacturers, and packaging buyers.
• Port and Maritime Construction Services Construction and operation of port and maritime facilities including the PVC-MS port with 23-hectare yard, 246-meter berth capable of supporting loads up to 50 tons/m2, and 35 tons/m2 yard capacity. Targeted at maritime logistics operators, oil and gas clients, and port users.
• Infrastructure Development Services Development of urban infrastructure, utility systems, and transportation infrastructure including roads and civil engineering projects. Targeted at government agencies, public sector clients, and infrastructure development programs in Vietnam.

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Tập đoàn Dầu khí Việt Nam (PVN)coreStrategic or Co-development PartnerVietnam Oil and Gas Group (PVN) is the primary client and strategic partner of PETROCONS. PVN delegates and authorizes projects to PETROCONS as the main EPC contractor, including the Sông Hậu 1 Thermal Power Plant project. PETROCONS also executes projects where PVN acts as the investing client.
• PV-PIPE (Pipe Vietnam)coreStrategic or Co-development PartnerPV-PIPE was designated by PVN as the investor and owner for Vietnam's first straight-welded steel pipe manufacturing plant for the oil and gas industry, with PETROCONS (PVC) serving as the main EPC contractor. This represents a co-development partnership for critical national infrastructure.
• Trường Cao đẳng Nghề Dầu khí Vũng TàuminorStrategic or Co-development PartnerPETROCONS was contracted to construct the Cao đẳng Nghề Dầu khí (Oil and Gas Vocational School) in Vũng Tàu, with a total investment of approximately 98 billion VND.

Scale indicators1 record

Recent moves6 records

Expansion highlights6 records

Direct peers

• Vinaconex: Vinaconex is one of Vietnam's largest construction conglomerates, active in civil, industrial, and infrastructure construction. It competes with PETROCONS in civil construction, urban development, and infrastructure EPC.
• Lilama Corporation: Lilama is a major Vietnamese state-owned industrial EPC contractor specializing in power plants, industrial facilities, and heavy mechanical erection. It competes head-to-head with PETROCONS for thermal power and industrial construction contracts in Vietnam.
• PetroVietnam Technical Services Corporation (PTSC): PTSC is the technical services arm of PetroVietnam and a sister company to PETROCONS under the same state-owned parent. Both serve Vietnam's oil & gas sector with EPC, construction, and technical services, making them the most directly comparable peer.
• Hoa Binh Construction Group: HBC is a leading private Vietnamese construction group specializing in civil, industrial, and commercial building projects. It overlaps with PETROCONS' civil construction and industrial project execution activities.
• Song Hong Construction Joint Stock Company: Song Hong is a Vietnamese construction and infrastructure contractor active in civil, industrial, and transportation projects. It is comparable to PETROCONS in domestic industrial and infrastructure construction.
• Construction Corporation No. 1 (CC1): CC1 is a Vietnamese state-owned general contractor executing industrial, civil, and infrastructure projects nationwide. Its broad EPC portfolio and government relationships make it a close comparable to PETROCONS' diversified construction business.
• Cofico: Cofico is a Vietnamese construction company engaged in industrial, civil, and infrastructure projects. It is comparable to PETROCONS as a domestic EPC contractor competing for similar project types in Vietnam.

Broad incumbents

• Petrofac: Petrofac is an international EPC contractor focused on oil & gas, energy, and infrastructure projects. While it does not specialize in Vietnam, its oil & gas EPC capabilities directly overlap with PETROCONS' core service offering.
• Technicas Reunidas: Técnicas Reunidas is an international EPC firm serving oil & gas, power, and infrastructure markets. Its thermal power and refinery EPC capabilities overlap with PETROCONS' industrial power and petrochemical construction activities.
• Saipem: Saipem is a global EPC contractor in oil & gas, refining, and energy infrastructure. Its portfolio of large-scale industrial and pipeline EPC projects parallels PETROCONS' petrochemical and oil & gas construction work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/petrovietnam-construction-corp

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries17 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 Construction Corp