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Saudi Arabia Looks To Shelve Aramco IPO

Saudi Arabia Looks To Shelve Aramco IPO

Saudi sources have confirmed that…

Vietnam National Oil and Gas Group Launches Oil Platform

Vietnam National Oil and Gas Group, better known as PetroVietnam, have launched the nation’s first indigenously built 300 foot-high drilling rig and Moc Tinh oil platform.

Vietnamese President Truong Tan Sang and Vietnamese ministers and agency heads, along representatives from the Russian Embassy and the Russian Consulate General in Vietnam attended the launching ceremony at Vietnam’s Vung Tau petroleum port.

The ceremony was held on the 50th anniversary of PetroVietnam, VietnamPlus news agency reported.

PetroVietnam underwrote the construction costs of the drilling rig and the PetroVietnam Marine Shipyard was the engineering, procurement and construction (EPC) contractor.

Vietnam has now become one of only three Asian countries and ten nations worldwide capable of building jack-up drilling rigs to international standards recognized by the American Bureau of Shipping (ABS).

The Moc Tinh oil platform was designed and manufactured by Vietnam’s Petroleum Equipment Assembly and Metal Structure JSC and is currently the largest oil platform in Vietnam, with a total weight of over 14.000 tons.

At the ceremony, the Russian-Vietnamese oil and gas joint venture Vietsovpetro signed a contract with PetroVietnam Marine Shipyard for the construction of a second 300-foot jack-up drilling rig to be built at the shipyard.

By. Joao Peixe, Deputy Editor OilPrice.com



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