Business

PetroVietnam unveils geophysical survey branch

PetroVietnam Technical Services Corporation (PTSC) unveiled a new company branch on June 16 which specialises in geophysical exploration services for the oil and gas industry.
PetroVietnam Technical Services Corporation (PTSC) unveiled a newcompany branch on June 16 which specialises in geophysical explorationservices for the oil and gas industry.

The new branch, a51 percent and 49 percent joint venture between PTSC and CGG Veritas(CGGV), provides 2D&3D (two dimensional and three dimensional)seismic acquisition services.

The joint venture willoperate for 20 years, according to PTSC, a subsidiary of Vietnam 'sleading oil and gas company PetroVietnam.

The company saidthe joint venture would help it to provide full technical servicespackages for petroleum exploration and development in Vietnam aswell as in the regional market.

PTSC, which owns 17trillion VND in total assets and employs 9,000 personnel nation-wide,provides diversified technical services for the oil and gas industryinside and outside Vietnam .

Headquartered in Paris , the 79 year old CGGV boasts 50 years of seismic survey services in Vietnam . /.
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