PV Shipyard Commences Keel Laying for Tam Dao 05 Jackup in Vung Tau

Construction of jackup Tam Dao 05 (350' ILC) reached a milestone when a keel laying ceremony was held at PetroVietnam Marine Shipyard (PV Shipyard) in Vung Tau, Vietnam by the yard together with owner Vietsovpetro and Vietnam National Oil and Gas Group (PetroVietnam) in late October, five months after work begun, local online media VietnamNet Bridge said Monday.

Vietsovpetro ordered the Friede and Goldman’s JU-2000E designed jackup in November 2013, with delivery of Tam Dao 05 -- equipped to operate in water depths of up to 400 feet and drill in depths of up to 30,000 feet -- scheduled for completion 32 months after the contract was signed.

PV Shipyard revealed that the cost of building the 18,000-ton Tam Dao is around $230 million, compared to $200 million as reported when the contract was inked a year ago.

Tam Dao 05 us the second jackup to be constructed locally PV Shipyard, with the first, Tam Dao 03 (300' ILC), delivered to Vietsovpetro in March 2012.

PetroVietnam emphasized that construction of Tam Dao 05 is significant to Vietnam as the jackup can contribute to energy security and help to exercise "sovereignty over national natural resources," Nguyen Xuan Son, the national oil and gas firm's president said, as quoted by VietnamNet Bridge.

Tam Dao 05 would provide Vietsovpetro with the flexibility in its exploration campaign and reduce expenses in the charter of drilling rigs, Tu Thanh Nghia, general director of Vietsovpetro commented in an Oct. 25 press release by PV Shipyard.

With the construction of Tam Dao 05, Vietnam is expected to be interested in building larger rigs like semisubmersibles if the country hopes to explore for hydrocarbons offshore in depths of 3,281 feet (1,000 meters), industry analyst Do Thai  Binh told VietnamNet Bridge.


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