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Industrial Park in the East of Dung Quat Economic Zone, Binh Dong Commune, Binh Son District, Quang Ngai Province, Vietnam

Chairman of Board of Directors of Petrovietnam has visited and worked with DQS

On 23rd February 2012, Mr. Phung Dinh Thuc, Chairman of Board of Directors of Petrovietnam together with Group Leaders has visited and worked with Dung Quat Shipyard ( DQS) in Dung Quat Economic Zone, Quang Ngai Province.

Chairman of Board of Directors of Petrovietnam visited dry Dock No.1 in Dung Quat Shipyard

Mr. Tran Hoai An, General Director of Dung Quat Shipyard (DQS) reported to Petrovietnam Leaders on the results of production and business activities in 2011 and DQS business production plan implement up to 02/2012.Accordingly, in 2011, in spite of many difficulties, DQS has continuously made an effort to stabilized organization structure, complete management system, arrange works, income for employees with average income of 5,7 million VND/person/month.

DQS has finished repairing and delivered 08 vessels to customers including Truong Sa, Con Son, VSP-05, Ba Vi, Eagle, Sao Mai 01, Horizon, Sao Mai 03, launched 104.000DWT oil Tanker and fabricated some mechanical production, which gradually affirms the branch of DQS to clients.

In 2012, all DQS staffs make an effort to obtain revenue of 1.700 million VND. At present, DQS focus on completing the crude oil tanker 104.000 DWT to deliver to PVTrans by the end of 04/2012. As the same time, DQS finish repairing three ships as Con Son, Hoang Sa and Truong Sa to deliver to Vietsovpetro by the end of 03/2012.

DQS General Director Tran Hoai An reported to Petrovietnam Leaders on production and business activities of company

On behalf of Group, Mr. Phung Dinh Thuc appreciated effort of DQS during last time and assure to direct other subsidiaries of Group to take priority to repairing and building ship in DQS. Meanwhile, He suggested DQS urgently complete the crude oil tanker 104.000 DWT to deliver to PVTrans on 31/04/2012. DQS must find out the most appropriate plan so that the Group will loan preferential capitals for business production.

Mr. Phung Dinh Thuc Chairman of Board of Directors of Petrovietnam gave speech at the meeting

DQS need to expand investment cooperation, especially foreign partners. Continue to complete management system, focus on quality of product to improve competition capacity. DQS No.1 priority task is to prepare every facilities to take part in building semi-sub.

For the stagnant materials, DQS need to sort out, liquidate soon to return capital and have appropriate way for the remain equipment as 02 main engines of the 54.000DWT Carrier, 18.000DWT Barge, cancel installation the 700T crane, as well as cancel investment contruction shipyard phase 2. For training, Mr. Phung Dinh Thuc suggest DQS to have specific plan for building human resources to meet company need.

On behalf of DQS, Mr. Nguyen van Hoi, Chainman of company has received and thank you for the close direction of Group Leaders and promise to implement the remain items to fulfill the set out objectives under direction of Group.

DQS