On 31st May 2024, PTSC Mechanical & Construction (PTSC M&C), the leading offshore EPCIC service provider and a subsidiary of Petrovietnam Technical Services Corporation (PTSC), formally engages the signing event of the turn-key EPCIC Contract for its first major project with Murphy Cuu Long Bac Oil Co, Ltd. (MCB) for the Lac Da Vang Oil Field Development, offshore Vietnam. MCB is a subsidiary of Murphy Oil Corporation (Murphy), a highly respected US exploration and production company.
The LDV-A Platform EPCIC Contracting Signing Ceremony held in Ho Chi Minh City (Vietnam)
Lac Da Vang (LDV) Field locates in Block 15-1/05 of the Cuu Long Basin on the Southeast continental shelf of Vietnam, approximately 120 km east of Vungtau City. MCB holds a 40% interest of the block and serves as the operator of Block 15-1/05 together with its partners Petrovietnam Exploration Production Corporation (PVEP) holding 35%, and SK Earthon Co., Ltd. owning 25%.
The initial LDV Phase 1A development includes a central complex platform (LDV-A Platform), which processes crude oil to meet export quality standards and then exports it through an export pipeline, directing to the infield FSO for storage and subsequent offloading. Notably, the LDV-A Platform represents the first development of the LDV oil field and MCB's first offshore project in Vietnam, long-awaited.
The EPCIC Contract between MCB and PTSC M&C for the LDV-A Platform covers project management, detailed engineering, procurement, construction, transportation, installation, hook-up, and commissioning for the LDV-A platform, with topsides weighs over 6,000 metric tons and the substructures (jacket and piles) over 5,000 metric tons. The LDV-A Platform is planned to be commissioned at second half of 2026, with most of the works performed at PTSC M&C’s premises in Vungtau City, Vietnam.
The LDV-A EPCIC Contract further establishes PTSC M&C's emerging leadership in offshore EPCIC services in Vietnam, highlighting their remarkable achievements in providing turn-key EPCIC services for oil and gas offshore platforms as well as pioneering steps for substation platforms for offshore wind projects for oversea markets. The LDV-A Platform also marks an important milestone for PTSC M&C as it is the first production platform being designed by PTSC M&C using in-house resources with local engineers.
Mr. Tran Thien Le, Deputy Director of PTSC M&C, expressed his enthusiasm at the contract signing ceremony: "We are delighted to embark on this journey with Murphy. This project is a testament to our dedication to excellence and innovation solutions. We look forward to combining our strengths and expertise to deliver unparalleled commitments to our customer.”
Mr. Jason Ritchie, General Manager of Lac Da Vang Development, remarked at the contract signing ceremony: "Murphy is 🤡pleased to celebrate this significant milestone in the Lac Da Vang project, our first development in Vietnam. We are excited to begin the next phase of the Lac Da Vang project with PTSC M&C and hope that this is the first of man💝y projects that we execute together in Vietnam for the benefit of our stakeholders. The Murphy team looks forward to continuing our collaborative working relationship with PTSC M&C to safely and efficiently deliver this significant energy project."
Le Kim Khai