McDermott-PTSC Consortium Wins Major Contract in Vietnam

A consortium led by McDermott and Petrovietnam Technical Services Corporation (PTSC) wins a major contract for the Block B gas development project, off the southwest coast of Vietnam.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

A leading consortium, including McDermott and Petrovietnam Technical Services Corporation (PTSC), has won a crucial contract for the Block B gas development project. The project, located off the southwest coast of Vietnam, encompasses a wide range of services, including engineering, procurement, construction, installation (EPCI) and commissioning (HUC).

 

The Block B Gas Development Project Contract

 

The company’s scope is vast, covering the provision of EPCI and HUC services for several key components. These include a central production platform, a platform for living quarters, a flare tower and various walkways. The importance of this contract is underlined by its value, in excess of $1 billion.

 

Consortium collaboration and expertise

 

Mahesh Swaminathan, McDermott’s Senior Vice President of subsea and floating facilities, expressed confidence in the consortium’s capabilities. He said, “This award combines our 50 years of experience in executing complex EPCI projects in the region with the technical strengths of PTSC. Together, we will initiate this important work as we finalize the full scope of the project and ultimately deliver another world-class project for Vietnam.”

In keeping with the principles of neutrality and objectivity, it is important to highlight the technical and logistical aspects of this project. The collaboration between McDermott and PTSC brings together significant expertise and resources to ensure the success of this ambitious undertaking.

 

In conclusion, the consortium led by McDermott and PTSC has been awarded a substantial contract for the Block B gas development project in Vietnam. This project, with its comprehensive scope and significant value, highlights the importance of international collaboration in the energy sector. It not only strengthens the region’s infrastructure, but also underlines the commitment to delivering high-quality projects that benefit Vietnam and the global energy landscape.

The agreement signed with Afreximbank marks a strategic shift for Heirs Energies, aiming to scale up its exploration and production operations on Nigeria's OML 17 oil block.
Oritsemeyiwa Eyesan’s appointment as head of Nigeria’s oil regulator marks a strategic shift as the country targets $10bn in upstream investment through regulatory reform and transparent licensing.
Baghdad states that all international companies operating in Kurdistan’s oil fields must transfer their production to state marketer SOMO, under the agreement signed with Erbil in September.
Chinese oil group CNOOC continues its expansion strategy with a new production start-up in the Pearl River Basin, marking its ninth offshore launch in 2025.
A train carrying over 1,200 tonnes of gasoline produced in Azerbaijan entered Armenia on December 19, marking the first commercial operation since recent conflicts, with concrete implications for regional transit.
Subsea 7 has secured a new extension of its frame agreement with Equinor for subsea inspection, maintenance and repair services through 2027, deploying the Seven Viking vessel on the Norwegian Continental Shelf.
Caracas says Iran has offered reinforced cooperation after the interception of two ships carrying Venezuelan crude, amid escalating tensions with the United States.
US authorities intercepted a second oil tanker carrying Venezuelan crude, escalating pressure on Caracas amid accusations of trafficking and tensions over sanctioned oil exports.
California Resources Corporation completed an all-stock asset transfer with Berry Corporation, strengthening its oil portfolio in California and adding strategic exposure in the Uinta Basin.
The Ugandan government aims to authorise its national oil company to borrow $2 billion from Vitol to fund strategic projects, combining investments in oil infrastructure with support for national logistics needs.
British company BP appoints Meg O'Neill as CEO to lead its strategic refocus on fossil fuels, following the abandonment of its climate ambitions and the early departure of Murray Auchincloss.
The Venezuelan national oil company has confirmed the continuity of its crude exports, as the United States enforces a maritime blockade targeting sanctioned vessels operating around the country.
Baker Hughes will supply advanced artificial lift systems to Kuwait Oil Company to enhance production through integrated digital technologies.
The United States has implemented a full blockade on sanctioned tankers linked to Venezuela, escalating restrictions on the South American country's oil flows.
Deliveries of energy petroleum products fell by 4.5% in November, driven down by a sharp decline in diesel, while jet fuel continues its growth beyond pre-pandemic levels.
ReconAfrica is finalising preparations to test the Kavango West 1X well in Namibia, while expanding its portfolio in Angola and Gabon to strengthen its presence in sub-Saharan Africa.
Shell has reopened a divestment process for its 37.5% stake in Germany's PCK Schwedt refinery, reviving negotiations disrupted by the Russia-Ukraine conflict and Western sanctions.
Aliko Dangote accuses Nigeria’s oil regulator of threatening local refineries by enabling refined fuel imports, while calling for a corruption probe against its director.
Shell Offshore approves a strategic investment to extend the life of the Kaikias field through a waterflood operation, with first injection planned for 2028 from the Ursa platform.
Oil prices drop amid progress in Ukraine talks and expectations of oversupply, pushing West Texas Intermediate below $55 for the first time in nearly five years.

All the latest energy news, all the time

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.