PV Shipyard Hands Over Newbuild Jackup Tam Dao 05 to Vietsovpetro

PetroVietnam Marine Shipyard (PV Shipyard) reported Saturday that Vietsovpetro, a Russia-Vietnam oil and gas exploration and production joint venture, took delivery of Vietnam's first locally built jackup, Tam Dao 05 (400' ILC), following a handover ceremony Friday at the former's shipyard in Vung Tau Province.

Vietsovpetro placed the order with PV Shipyard to build the $230 million Friede and Goldman's JU-2000E design jackup in 2013. Construction commenced in March 2013 and was completed after 32 months.

Speaking at the Tam Dao 5 handover event, Vietnam's Deputy Prime Minister Trịnh Dinh Dung said the development of the country's rig building industry would help to stimulate the growth of related sectors, pointing out that 40 percent of components for the jackup were made locally.

"We are glad to complete and handover this new build jackup to Vietsovpetro on time and on budget," Le Hung, managing director of PV Shipyard said at the ceremony.

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