New white rhinoceros oilrig contract signed

An epCI contract based on the design, procurement, fabrication and installation of the H4 superstructure oilrig was inked between PetroVietnam, the Hoang Long Joint Operating company and the Petroleum Equipment Assembly & Metal Structure JSC in Ha Noi yesterday.

The US$44 million construction project will start on July 4 and run until late May, 2012.

The H4 oil rig’s upper storey block, weighing 2,500 tonnes, will help ensure increased oil and gas extraction efficiently at the white rhinoceros oil field, situated in Block 16-1, based on a continental shelf around 100 km southeast of Vung Tau City and under contract and management of the Hoang Long Joint Operating company.

Oil field development will include a storage vessel, two clusters of oilrigs known as H1 and H4 and an internal system of underground pipelines to transport crude oil and gas.

Following successful project completion, the oil field is expected to welcome its first oil flow in August 2011. — VNS

Tags: white rhinoceros oilrig

Posted by VBN on Jun 30 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry