PTSC General Meeting of Shareholders 2025
At the General Meeting, shareholders approved the plan to pay dividends in 2024 by shares at a rate of 7%. With nearly 478 million shares in circulation, PTSC will issue more than 33 million shares to pay dividends, thereby increasing its charter capital from VND 4,780 billion to about VND 5,114 billion. This is an important preparation step in the long-term capital increase roadmap, serving the investment plan of nearly VND 28,000 billion for the period 2026-2030. Another important content at the General Meeting is the approval of the Contract for Supply, Operation and Maintenance of Floating Storage and Offloading of Oil and Gas (FSO) for Block B Project - total value of over 600 million USD, with a fixed lease term of 14 years and an optional 9-year extension. This is a project of strategic significance in the offshore oil and gas service chain in general and the FSO/FPSO floating storage business in particular of PTSC. Together with Lac Da Vang field FSO, Block B FSO helps PTSC complete the strategic goal of developing 02 new floating storages in the 2020-2025 period, bringing the total number of PTSC's FSO/FPSO floating storages to 08.
Three new strategic spearheads: Oil and gas and LNG, renewable energy, nuclear power
Mr. Tran Ho Bac - General Director of PTSC emphasized that the enterprise is expanding into new strategic areas. The traditional oil and gas sector is expanding into mine clearance and research on carbon capture and storage (CCS); The offshore renewable energy sector will focus on manufacturing offshore wind turbine jackets, transformer stations, and providing technical solutions, contributing about 20% of revenue in 2024, expected to increase to 30% in the coming years; The newest sector is nuclear power, PTSC aims to participate deeply in the supply chain, especially the localization work of the first nuclear power plant in Vietnam, focusing on cooling systems and steel structures, which are familiar and similar jobs in which PTSC has strengths.
The expected revenue proportion in the next 2-3 years includes: traditional oil and gas still accounts for 60-70%, renewable energy about 20-30%, the rest is from new fields.
The Presidium runs the Congress.
Wind power export and regional linkages
Regarding the plan to participate in the offshore wind power export project to Malaysia and Singapore, PTSC General Director said that this project has the participation of 04 largest energy corporations in ASEAN, with the expectation of opening up a power transmission corridor connecting the Southeast Asian region. PTSC plays the role of both a technical service provider and an investor in the project chain. The project consists of 3 main components: wind farm cluster in Vietnam, submarine cable system, transformer station in Vietnam and the receiving countries. Currently, PTSC is conducting wind measurement surveys, preparing a feasibility report (FS), coordinating with competent agencies to prepare infrastructure and legal basis.
Within the framework of the ASEAN Summit held on the afternoon of May 26 in Kuala Lumpur (Malaysia), Prime Minister Pham Minh Chinh , Malaysian Prime Minister Anwar Ibrahim and Singaporean Prime Minister Lawrence Wong witnessed the signing ceremony of the joint development agreement between the MYEC Consortium (Petronas and TNB) participating in the project of Petrovietnam (through PTSC) and Sembcorp on exporting renewable electricity from Vietnam to Malaysia and Singapore.
PTSC General Director affirmed: “This is a large-scale project and unprecedented in the region, but it is completely feasible because Europe has many similar models. When implemented, the project will contribute significantly to PTSC in the next 30-50 years, while marking Vietnam as a pioneer country in realizing the goal of inter-ASEAN power connectivity”. PTSC leaders also informed about the plan to expand Dung Quat, Nghi Son, Hon La ports - expected to increase operating capacity by 20% and reduce pressure at Vung Tau downstream port; PTSC also invested more in the service fleet, with the expectation that the port and ship sectors will contribute about 10% of each segment's revenue in the coming period. At the same time, the Corporation has restructured the survey service unit to enhance physical and human resources capacity to serve the survey of offshore wind power projects. With the strategic agreement between Petrovietnam and several large domestic corporations, PTSC expects to localize most of the input materials and services used in offshore projects - which currently have to be completely imported. Being proactive in sourcing input materials and services, especially steel, will help Vietnam's energy supply chain increase its competitiveness significantly.
Strategic orientation from major shareholder Petrovietnam
At the Congress, Mr. Pham Tuan Anh - Member of the Board of Directors of Petrovietnam, representative of the shareholder holding controlling shares at PTSC, highly appreciated the results that PTSC has achieved in 2024 and the Project of manufacturing the DGNK jacket was assessed by the Customer as having construction quality exceeding expectations. In addition to the impressive financial figures, PTSC has formed a synchronous, modern infrastructure platform with a team of high-quality engineers and technical workers, meeting the increasingly stringent requirements of the international market.
Mr. Pham Tuan Anh, Member of the Board of Directors of Petrovietnam, emphasized the governance focuses that PTSC needs to focus on in the coming time.
Entering a new stage of development, PTSC needs to continue to affirm its position as a leading enterprise in the field of national industrial and energy technical services, with eight pillars of operation that need to be maintained and developed evenly. In particular, offshore mechanics and renewable energy need to be prioritized for strategic investment. Every investment decision must be close to the market, close to human resources and bring about real efficiency.
Mr. Pham Tuan Anh also pointed out the key management focuses that PTSC needs to focus on, including: fluctuation management, strategic management, risk management and financial management. In particular, he emphasized the human factor - human resource management - as the key condition determining long-term development.
Regarding organizational orientation, Mr. Pham Tuan Anh suggested that PTSC study the integrated governance model between PTSC and a number of other service units in the Group to create overall efficiency for the industrial - energy service chain. The integration does not lose the independent legal status of each unit but must aim at unifying the strategy, operating system and promoting the efficiency of the service chain. Mr. Pham Tuan Anh also particularly emphasized the role of inspection and supervision. According to him, this is a tool to affirm the right path, increase the trust of shareholders and stakeholders.
PTSC's 2025 Annual General Meeting of Shareholders was a great success, with consensus, unity and increased trust from shareholders, creating a solid foundation for the Corporation to continue to break through and conquer goals in the new period./.
Truc Lam
Source: https://www.ptsc.com.vn/tin-tuc/tin-ptsc-1/san-xuat-kinh-doanh/dhdcd-ptsc-2025-chia-co-tuc-bang-co-phieu-tang-von-dieu-le-trien-khai-chien-luoc-dau-tu-trung-dai-han
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