With investing from Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro), Tam Dao 05 oilrig featuring the JU-2000E model of the American Friede and Goldman is expected to be completed within 32 months at a total cost of US$230 million.
The 120-metre jack-up rig will weigh almost 18,000 tons and can drill to a depth of 9 kilometres.
According to Vietsovpetro Director General Tu Thanh Nghia, the company is currently renting four foreign oilrigs at a total cost of US$220 million per year. The oilrig could help reduce costs for the company, he added.
Tam Dao 05 platform manufacturer, PetroVietnam Marine Shipyard JSC (PV Shipyard), built the first made-in-Vietnam jack-up rig, Tam Dao 03, weighing nearly 12,000 tons. Tam Dao 03 platform, including a helicopter deck, can drill as deep as 6 kilometers.
PV Shipyard also successfully upgraded Tam Dao 02 oilrig for Vietsovpetro in October, 2014.
