OilVoice - PSN Secures Major Contract Extension in Vietnam

PSN Secures Major Contract Extension in Vietnam

Monday, November 03, 2008

• Four year, multi-million US dollar contract extension with Korean National Oil Corporation (KNOC)
• KNOC taken up two contraction extension options of two years each
• O&M services on Rong Doi gas platform
• Utilisation of significant local expertise and resources
• Excellent foundation for further work in Vietnam

Production Services Network (PSN), the international energy services company based in Aberdeen has secured a four year, multi-million US dollar contract extension to provide Operation and Maintenance Services on KNOC’s Rong Doi and Rong Doi Tay Gas Field Development Project in Vietnam. The extension consists of two options of two years each, beyond which there is potential to extend PSN’s O&M support for a further sixteen years.

Rong Doi, located 320km off the coast of Vietnam, is KNOC’s first offshore production facility outside of Korea and is supported by a predominantly local PSN team. The development consists of a Wellhead Platform bridge linked to Production Utilities Quarters Compression Platform and associated pipelines.

Commenting on the deal, Alan Gordon, PSN Operations Director, Asia Pacific said:
“We have established an excellent working relationship with KNOC and worked hard to develop our Vietnamese workforce; a further example of PSN’s localisation strategy. Vietnam has a great deal of potential for offshore production and we have already been involved in further engineering and feasibility projects with KNOC. As a result, we are confident of growing our business in this important territory.”

Dr Se Jin Park, General Director, KNOC Vietnam office said:
“PSN supported us well through the set-up phase of Rong Doi, therefore we have taken up two further two-year contract extension options. This is testament to the firm’s record of delivery, safety and quality, supporting our business in Vietnam.”