024-38.56.28.61 Email: mail@pvchem.com.vn Ioffice
PETROVIETNAM CHEMICAL AND SERVICES CORPORATION

Introduction

 
 
In addition to the core services of chemical engineering and drilling fluids, up to now, PVChem has synchronously developed in all 3 areas of services - trading - manufacturing; providing products and services to the oil and gas industry (exploration, production, refineries, petrochemicals, etc.) as well as  other industries.
Over the past 30 years, PVChem has continuously made efforts to improve products and services quality, research and develop new products, optimize production, improve competitiveness, step by step reaching international markets.
According to the Development Strategy to 2025, with a vision to 2035, PVChem aims to become a professional chemical engineering services provider, chemical and petrochemical producer and trader - not only major in Vietnam but reputable in the region. It strives to achieve an average profit growth rate of 10 - 15% per year for the period from 2016 - 2025, and 15 - 20% per year for the period of 2026 - 2035.

1. Services

1.1. Drilling fluid provision 
* Period 2020 - 2025: Maintain and develop to hold at least 70% market share of domestic drilling fluid services.
* Period 2026 - 2030: with a vision to 2035: Supply high-quality human resources and services abroad.

1.2. Industrial services
* Period 2020 - 2025:
-Revenue growth target: 15% per year; 
- Profit/capital target: 15 - 20% per year.
-Deploy supporting services to oil and gas production: well treatment, well completion, inorganic/organic scaling elimination in production tubing and surface equipment system, other processing in oil and gas transportation and enhanced oil recovery (EOR).
-Deploy services in downstream sector: expanding and developing to become a reputable technical services provider to the downstream of the oil and gas industry, including but not limited to services of maintenance and repair for oil and gas constructions, anti-corrosion, chemical engineering, environmental treatment and cleaning, high-pressure water cleaning, catalyst replacement, repair and restoration of rotating equipment.
-Become a creditable unit in the field of anti-corrosion, construction life extension and O&M.
-Strive to become a Top 3 unit providing repair and maintenance services for oil and gas constructions in Vietnam.
-Strive to be in Top 5 of environmental services providers in Vietnam, with a focus on construction and operation of wastewater stations and environmental management consultancy. 
-Develop downstream chemical and technical services for petrochemical and industrial sectors.
-Strengthen domestic and international cooperation; expand the scale and improve efficiency of cooperative activities.
* Period 2026 - 2030, with a vision to 2035
-Identify services and target markets to implement the service development strategy, export services to countries in Southeast Asia.
-Continue to develop and expand downstream services, becoming the foremost services provider in this area of the oil and gas industry.
-Maintain technical services in the oil and gas industry value chain.
-Explore new venture opportunities in other industries.

2. Trading 
 
* Period 2020 - 2025
- Profit/capital target: 10 - 12% per year.
- Trading in chemicals for drilling, production, refining and petrochemical segments: Maintain and expand market share, develop new customers.
- Trading in other industrial chemicals: Develop and trade chemicals for power generation and other industries, supply products for civil use.
* Period 2026 - 2030, with a vision to 2035
-Profit/capital target: 10 - 12% per year.
-Maintain market share and existing customers in the drilling, production, refining and petrochemical businesses; closely follow implementation plans of oil and gas projects to develop new customers.
-Build up the supply system foundation, consolidate human resources to ensure the ability to develop the business of supplying drilling fluids for both domestic and oversea drilling campaigns.
-Expand the supply of dominant chemical products to Southeast Asia countries (Indonesia, Malaysia, Thailand, etc).


3. Manufacturing

* Period 2020 - 2025
-The average manufacturing target is 28,000 tons/year, including the following main products of cement G, bentonite, hydrogen gas and vapor, hydrogen peroxide, bitumen, CO2, etc. for drilling and production, refineries, petrochemical plants as well as other industries.
-Manufactured products comply with international standards.
-Invest in research and commercial development of new products to meet the market demand.
* Period 2026 - 2030, with a vision to 2035
-Maintain the output growth rate of 5 - 10% per year in terms of traditional products, maximize capacity of the factories.
-Continue to invest, research, and develop products such as catalysts, DOTP resin, PS resin, H2SO4, CaCl2, UF glue, chemicals, solvents, NaHCO3, etc. for the oil and gas sector and other industries.
-Research and develop petrochemical products and catalysts at a large-scale with differentiated features to ensure the sustainable growth.