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NEWS - Vietnamese company builds floating storage unit
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The FPSO unit before the name “PTSC Lam Son” given at a ceremony (Photo: VNA)

The PetroVietnam Technical Services Corporation (PTSC) has successfully built a floating production, storage and offloading (FPSO) unit to serve the Thang Long – Dong Do field off the coast of Vietnam. 

Own by the Lam Son Joint Operation Company (LSJOC), the unit is conversed from an oil storage vessel at a total cost of over 400 million USD. It is designed to store at least 350,000 oil barrels, treat 18,000 barrels a day, and operate non-stop for more than a decade. 

This is the first time a Vietnamese contractor has done all phases of the conversion from capital arrangement, design, repair, to operation and maintenance. 

The unit was given the name “PTSC Lam Son” at a ceremony held in Singapore on March 8 by PTSC and its partners, including Keppel ship yard. 

PTSC General Director Phan Thanh Tung said the project is entering its final phase and PTSC Lam Son is expected to set sail for Vietnam by the end of March. 

Nguyen Hung Dung, Deputy General Director of the Vietnam National Oil and Gas Group, said the implementation of this project has helped PTSC staff improve their skills of managing and running major projects, thus contributing to the group’s efforts to ensure national energy security.-VNA