Vietnam PXS Launches Light Oilrig at Bach Ho Oilfield

Petroleum Equipment Assembly & Metal Structure JSC (PVC-MS – coded PXS) has launched a light oilrig named BK15 at the Bach Ho oilfield after a five-month construction.

The 2,950-ton oilrig is expected to facilitate Vietnam-Russian Oil and Gas Joint Venture (Vietsovpetro)’s oil and gas exploration and production at the oilfield.

Vietsovpetro targets to produce between 6 and 6.2 million tons of crude oil, pump 595 billion cubic meters of natural gas and earn revenues of US$3 billion this year.

The firm also expects to produce 37.7 million tons of crude oil in the next five years.

Tags: Bach Ho oilfield, Vietnam oil field, Vietnam oil and gas

Posted by VBN on Jul 11 2010. 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