PetroVietnam coating secures major gas pipeline project

PetroVietnam Coating Joint Stock Company (PVB) has secured a contract for "Pipe Coating Service Block B - O Mon PC1 Gas Pipeline Project" with Thien Nam Offshore Services Joint Stock Company. This information was disclosed in a resolution by PVB's board of directors on September 23, 2025.

The contract, valued at VND 848,823,234,381 (VAT included), is a fixed unit price agreement with a duration of 150 days from the signing date. Payment terms include an advance payment of 10% for both 28" and 18" pipes, with the remaining 90% paid upon delivery, and final settlement for 100% of the contract value within 45 days after completion of documentation.

Dispute resolution for the contract will adhere to the laws of the Socialist Republic of Vietnam and will be handled by arbitration at the Vietnam International Arbitration Center (VIAC) in Ho Chi Minh City. This project marks a significant step for PVB in strengthening its market presence.