PMC has a statutory capital of VND50 billion (US$2.7 million) from six share holders, including the Petroleum Technical Services Corporation (PTSC), which holds the lion’s share.
PMC is expected to ensure the country’s Dung Quat Oil Refinery in Quang Ngai province operates effectively.
PMC is the second company in the country to provide such a service. The only other operator in the country was PTSC Offshore Services, a member of PTSC, which now operates in the southern region and Vietnam ’s southern continental shelf.
At the ceremony, PTSC signed a US$60 million EPC contract with the central region’s Oil and Gas Bio Fuel Joint Stock Company for a project to produce bio-ethanol.
PSTC will work with India ’s Alfa Laval to carry out the project in an estimated 18 months.