Business

Another oil-rig to be installed in Big Bear oil-field

An engineering, procurement, construction and installation (EPCI) contract for an oil-rig in the Big Bear oil-field was signed between Vietsovpetro (VSP) and the Dai Hung PetroVietnam Exploration and Production Corp. (PVEP Dai Hung) in Hanoi on Feb. 9.
An engineering, procurement, construction and installation (EPCI) contract foran oil-rig in the Big Bear oil-field was signed between Vietsovpetro (VSP) andthe Dai Hung PetroVietnam Exploration and Production Corp. (PVEP Dai Hung) inHanoi on Feb. 9.

Under the 65 million USD contract, VSP, a joint venturebetween PetroVietnam and Zarubezhneft of Russia, will design structures, procurenecessary materials and undertake construction and transportation of the WHP-DH2oil-rig off the country’s southern coast.

The oil rig, which is expectedto turn out the first oil on September 2, 2011, is expected to pump 18,000barrels per day.

Besides WHP-DH2, the contract also includes theupgrading of the FPU-DH1 oil-rig, also in the oil-field./.
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