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:

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.

  • Populaires ​
Ignitis begins construction of three energy storage parks in Lithuania
Shell ships first LNG cargo from its LNG Canada facility
Dalinar Energy wins recommendation to acquire Citgo with $7.38bn bid
TotalEnergies acquires 1.5 GW of AES renewable assets in the Caribbean
Japan and Siemens Gamesa sign strategic offshore wind agreement
Petrobras Considers Strategic Sale of Polo Bahia Oil Hub
Petrobras is exploring various strategies for its Polo Bahia oil hub, including potentially selling it, as current profitability is challenged by oil prices around $65 per barrel.
Azevedo & Travassos acquires Petro-Victory to strengthen its Brazilian onshore portfolio
Brazilian producer Azevedo & Travassos will issue new shares to buy Petro-Victory and its forty-nine concessions, consolidating its onshore presence while taking on net debt of about USD39.5mn.
OPEC+ Significantly Raises Oil Quotas with Additional 548,000 Barrels
Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.
UK’s Lindsey refinery faces shutdown within three weeks, according to Wood Mackenzie
Lindsey refinery could halt operations within three weeks due to limited crude oil reserves, according to a recent analysis by energy consultancy Wood Mackenzie, highlighting an immediate slowdown in production.
Libya reopens the Hamada-Zawiya pipeline after six-week shutdown
The flow of crude between the Hamada field and the Zawiya refinery has resumed after emergency repairs, illustrating the mounting pressure on Libya’s ageing pipeline network that threatens the stability of domestic supply.
Gabon reactivates deep offshore blocks to stem oil decline
Libreville is intensifying the promotion of deep-water blocks, still seventy-two % unexplored, to offset the two hundred thousand barrels-per-day production drop recorded last year, according to GlobalData.
Afreximbank raises to $375 mn the reserve-based credit for Oando
The African Export-Import Bank extends the Nigerian oil company’s facility, providing room to accelerate drilling and modernisation by 2029 as international lenders scale back hydrocarbon exposure.
Petronas Launches Strategic Drilling Campaign Offshore Suriname
Petronas begins a three-well exploratory drilling campaign offshore Suriname, deploying a Noble rig after securing an environmental permit and closely collaborating with state-owned company Staatsolie.
Glencore in talks with London over future of insolvent Lindsey oil refinery
Swiss commodities trader Glencore has initiated discussions with the British government regarding its supply contract with the Lindsey refinery, placed under insolvency this week, threatening hundreds of jobs and the UK's energy security.
Mauritania: Sonatrach and SMH launch strategic partnership in downstream oil sector
Facing an under-equipped downstream sector, Mauritania partners with Sonatrach to create a joint venture aiming to structure petroleum products distribution and reduce import dependency, without yet disclosing specific investments.
Global Oil Exploration Investments Decline, a First Since 2020
Oil companies may reduce their exploration and production budgets in 2025, driven by geopolitical tensions and financial caution, according to a new report by U.S. banking group JP Morgan.
US oil inventories unexpectedly rise by 3.8 million barrels
Commercial oil inventories in the United States rose unexpectedly last week, mainly driven by a sharp decline in exports and a significant increase in imports, according to the US Energy Information Administration.
TotalEnergies acquires 25% stake in Block 53 in Suriname and strengthens its offshore presence
TotalEnergies acquires a 25% stake in Block 53 offshore Suriname, joining APA and Petronas after an agreement with Moeve, thereby consolidating its expansion strategy in the region.
Prax Group files for insolvency in the UK after losses at Lindsey refinery
British company Prax Group has filed for insolvency, putting hundreds of jobs at its Lindsey oil site at risk, according to Sky News.
Orlen ends Russian oil purchases for Czech refinery after contract expiry
Orlen announces the definitive halt of its Russian oil purchases for the Czech Republic, marking the end of deliveries by Rosneft following the contract expiry, amid evolving logistics and diversification of regional supply sources.
Adura becomes the leading independent oil and gas producer in the North Sea
Equinor and Shell launch Adura, a new joint venture consolidating their main offshore assets in the United Kingdom, aiming to secure energy supply with an expected production of over 140,000 barrels of oil equivalent per day.
Equinor discovers up to 15 mn barrels of oil at Johan Castberg in the Barents Sea
Equinor announces a new oil discovery estimated at between 9 and 15 mn barrels at the Johan Castberg field in the Barents Sea, strengthening the reserve potential in Norway's northern region.
Sierra Leone launches extensive offshore oil exploration with 60 potential blocks
Sierra Leone relaunches an ambitious offshore exploration campaign, using a 3D seismic survey to evaluate up to 60 potential oil blocks before opening a new licensing round as early as next October.
Zambia restructures petroleum logistics to stabilise energy supply
Faced with recurrent shortages, Zambia is reorganising its fuel supply chain, notably issuing licences for operating new tanker trucks and service stations to enhance national energy security and reduce external dependence.
Grangemouth Closure: UK Oil Stocks at Highest Level in Three Years
The closure of the Grangemouth refinery has triggered a record increase in UK oil inventories, highlighting growing dependence on imports and an expanding deficit in domestic refining capacity.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS