PetroVietnam Affiliates Signs US$29.4 Mln Oil and Gas Service Vessel Supply Deal

Petroleum Technical Services Corp (PVS) has recently reached an agreement worth VND500 billion (US$29.4 million) to provide two multipurpose oil and gas service vessels for Dai Hung Petroleum Company under the PetroVietnam Exploration Production Corp. (PVEP).

 

The 20-month contract is expected to facilitate the latter's drilling plan for 2009.

 

On the same day with the signing ceremony, PVS put into operation Phu My general oil and gas services port in Tan Thanh district of southeastern coast Ba Ria-Vung Tau province.

 

The port, with quay of 385 meters in length and 27 meters in width, is capable of accommodating vessels of up to 50,000 DWT of different types with total goods of 2 million-4 million tons annually.

 

Covering 20.8 hectares in local Phu My 1 industrial park with a total investment of nearly VND530 billion (US$31.17 million), the port is under Vietnams' port development plan until 2010 approved by the Prime Minister.

 

PVS also started building a 5,000-ton barge at cost of US$7 million for Petroleum Technical Services Joint Stock Corporation (PTSC) to facilitate offshore oil and gas component transportation and installation of domestic and foreign oil and gas contractors. (Vietnam Economic Times)