Contract singed for construction of nation’s first jack-up rig

A contract for element design consultation for a 60m jack-up rig was signed in southern city of Vung Tau on May 18 between the Oil Rig Manufacture Joint Stock Company (PV Shipyard) of Vietnam and the Le Tourneau Technologies Inc of the US.

The rig has a total investment capital of 180 million USD to be paid by the National Oil and Gas Group (PetroVietnam).

According to PetroVietnam, the 60m jack-up rig, an automated mobile offshore drilling complex, is the first of its kind to be built produced in Vietnam.

Once it is completed PetroVietnam will no longer have to lease this service from foreign contractors.

PV Shipyard Deputy Director Phan Tu Giang said the construction of the rig is scheduled to start in June and be completed after 32 months.

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