PVMR Sets Ambitious Goals with Long-Term Strategy Through 2026
PVMR Focuses on Building Long-Term Strategy to Exceed 2026 Targets
The PetroVietnam Maintenance and Repair Corporation (PVMR), a subsidiary of the Vietnam Oil and Gas Group (PetroVietnam), recently organized a conference to review the first half of 2026 and outline tasks for the second half of the year. The significant event was attended by senior leadership from PetroVietnam and representatives from the Party Committee of Binh Trung Ward, Ho Chi Minh City.
Notable Achievements in the First Half of 2026
In the first six months of 2026, PVMR has achieved remarkable results, solidifying its position as a leading company in the field of oil and gas facility maintenance and repair in Vietnam. The company has completed 95% of its revenue plan, exceeding the target by 5%.
Specifically, PVMR has successfully implemented major maintenance projects at offshore oil fields such as Bach Ho, Rang Dong, and Su Tu Vang. The company has also successfully signed new contracts worth over 2,000 billion VND with strategic partners both domestically and internationally.
Long-Term Strategy Through 2026
At the conference, PVMR's leadership presented a detailed long-term strategy aimed at achieving and exceeding the 2026 targets. This strategy focuses on five main pillars:
- Technological Innovation: Significant investment in advanced maintenance technologies, applying artificial intelligence and automation to enhance efficiency and reduce costs.
- Market Expansion: Strengthening international cooperation, particularly with promising markets such as Southeast Asia, the Middle East, and Africa.
- Human Resource Quality Enhancement: Training skilled engineers and workers, attracting talent from top universities.
- Increased Renewable Energy Application: Developing maintenance solutions for offshore wind and solar power projects.
- Corporate Governance Optimization: Implementing modern governance models, enhancing transparency and operational efficiency.
Challenges and Solutions
To achieve its objectives, PVMR faces numerous challenges including raw material price fluctuations, a shortage of high-quality human resources, and increasingly fierce competition from regional competitors.
To overcome these challenges, PVMR has proposed synchronized solutions:
- Building an intelligent supply chain management system to optimize raw material costs.
- Strengthening cooperation with research institutes and universities to train high-quality human resources.
- Accelerating digital transformation, applying blockchain technology in project management to enhance transparency and efficiency.
- Expanding strategic partnerships with international oil and gas corporations.
Sustainable Development and Social Responsibility
PVMR is committed to sustainable development, particularly in the context of global energy transition. The company is implementing carbon emission reduction projects and increasing the use of environmentally friendly materials in maintenance and repair activities.
Additionally, PVMR continues to implement social responsibility programs, supporting local communities where the company operates, particularly in the Ho Chi Minh City area and coastal provinces.
| Indicator | 2026 Plan | First Half Achievement | Completion Rate |
|---|---|---|---|
| Revenue | 10,000 billion VND | 4,750 billion VND | 95% |
| Profit | 1,200 billion VND | 580 billion VND | 96.7% |
| Projects Completed | 45 projects | 22 projects | 97.8% |
| Personnel Training | 500 people | 260 people | 104% |
Future Vision
According to the plan, by 2026, PVMR aims to become a leading corporation in Southeast Asia in the field of oil and gas facility maintenance and repair. The company sets a target of achieving 15,000 billion VND in revenue by 2027, with an annual compound growth rate of 15-20%.
The General Director of PVMR shared: "We clearly recognize the opportunities and challenges in the context of global energy transition. With a well-constructed long-term strategy, the unity of all officers and employees, and the support of the PetroVietnam Group, PVMR is confident to complete and exceed the set targets, contributing to the sustainable development of Vietnam's oil and gas industry."
Conclusion
The conference reviewing the first half of 2026 and outlining tasks for the second half has affirmed the determination and vision of PVMR's leadership in building a long-term strategy. With the achievements made and synchronized solutions, PVMR is on a strong development path toward becoming a leading enterprise in the field of oil and gas facility maintenance and repair in the region.
This event not only marks a highlight in PVMR's activities but also demonstrates PetroVietnam's commitment to developing strong member units, contributing to the overall development of the national oil and gas industry.
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