PV Shipyard- Pride of Made-in-Vietnam Products

With the support of the Government and Ba Ria - Vung Tau province, the close guidance of the Vietnam National Oil and Gas Group (PetroVietnam), right from its establishment, PV Shipyard started to build a 39.8-ha shipyard in Sao Mai Ben Dinh, Vung Tau City. Until now, PV Shipyard has completed the construction of first-phase items, enabling the company to repair and fabricate 3-4 jack-up drilling rigs at the same time.

 

With sustainable development orientation and gradual competition with dockyards in the world, PV Shipyard quickly defined and applied management and operation systems according to advanced models to meet technical and quality requirements according to international standards. PV Shipyard successfully built and applied QHSE integrated management system, including ISO 9001:2008 quality management system, OHSAS 18001 occupational safety and health management system, ISO 14001:2004 environmental management system, and Kaizen & 5S standard. Besides, PV Shipyard is building and applying internationally standardised production processes. Typically, PV Shipyard was granted ASME Certificate (U, R) by the American Society of Mechanical Engineers to serve the fabrication, repairing and checking of pressure tanks. At the same time, PV Shipyard has also developed and adopted an innovative corporate governance model and Matrix management style in place of traditional centralised management model to achieve high efficiency in production.

According to its development strategy, in the first five years, PV Shipyard successfully fabricated jack-up rigs in Vietnam and held onto traditional domestic customers to have the opportunity to expand to international markets. PV Shipyard successfully carried out 19 contracts and projects of designing, manufacturing and repairing drilling rigs and oil and gas structures, bringing about the total revenue of over VND5,200 billion and generating jobs for nearly 1,000 workers. The company completed the fabrication of Tam Dao 03 jack-up drilling rig and transferred it to the investor two months ahead of schedule. This is one of key mechanical products in the 2009 - 2015 period stated in the Prime Minister’s to Decision No. 10/2009/QD-TTg dated January 16, 2009. Weighing nearly 12,000 tonnes, the structure requires sophisticated technologies. The success with this project affirmed that domestic companies like PV Shipyard had taken and mastered technologies of oil rig designing, fabrication and installation from experienced foreign design consultants and manufacturers to build similar works in the future.

 

Then, PV Shipyard and Vietsovpetro signed a contract to build Tam Dao 05 jack-up platform. Currently, the shipyard is accelerating the installation of the work to hand over it to the investor in August 2016.

 

Mr Le Hung, Director of PV Shipyard, said that “The demand for energy is increasing rapidly due to high economic growth. To meet domestic demand for petroleum products, the Government of Vietnam introduced a lot of incentive and support policies to develop the oil and gas industry to ensure national energy security. The Government has encouraged domestic and foreign investors to invest in oil and gas fields in line with the Law on Oil and Gas and Decree No. 48/2000/ND-CP of the Government. The Vietnam National Oil and Gas Group (PetroVietnam) calls for foreign contractors to invest in offshore deepwater oil fields or in regions with complicated geological conditions. Therefore, the value of oil and gas services market in Vietnam is estimated at US$2 billion a year.

 

In the world, according to statistics, over 65 percent jack-up rigs are more than 26 years old and need to be replaced in 1-2 years. Besides, the Southeast Asian market is a vibrant area oil and gas exploration and production. With its favourable geographical position and easy access to oil rigs and marine vessels, PV Shipyard can easily contact platform operators when they need repair, upgrade, conversion or other support services.

 

Hence, the objective and orientation of PV Shipyard in the future is to promote business development to uphold its position on the domestic rig building, repairing and conversion market and sign new rig fabrication contracts with foreign customers.

 

Regarding personnel training and attraction, Director Le Hung said with joy that “Established in 2007, PV Shipyard has quickly emerged as a pioneer in fabricating jack-up rigs in Vietnam, and mastered jack-up rig designing and fabrication. Proudly, the company’s employees are very young. The average age of the company is 30, youngest in the Vietnamese oil and gas industry.”

 

The successful fabrication of Tam Dao 03 and Tam Dao 05 oilrigs reaffirm the sustainable development of PV Shipyard. With its confidence, effort and creativity, PV Shipyard always grasps and masters market trends to achieve maximum operational efficiency, asserts the name and position of PV Shipyard brand in particular and of Vietnamese oil and gas industry in general on the international market.