Vietnam Oil And Gas Corporation News

The Supreme Court in the Philippines on Tuesday declared the country's 2005 energy exploration agreement with Chinese and Vietnamese firms was illegal, ruling that the constitution does not allow foreign entities to exploit natural resources. The decision, on an agreement that expired in 2008, could complicate efforts by China to revive oil and gas exploration talks with the Philippines in areas of the South China Sea that are not in dispute. The court gave no explanation for why the ruling came 14 years after a petition was filed.

Keppel FELS Limited secured a $110 million contract to build a jackup rig for Petrovietnam Drilling & Well Services Company (PV Drilling). Mr Tong Chong Heong, Managing Director and COO of Keppel O&M, shared, “We are honoured to be the builder of choice for PV Drilling. “Keppel FELS’ relationship with PV Drilling’s parent company, PetroVietnam, goes back some 20 years when we delivered Vietnam’s first rig, Tam Dao, to Vietsovpetro in 1988. “We are pleased to have secured this new contract after a long bidding period, the country’s second newbuilding project.

The Dung Quat Shipbuilding Industry Company has signed with American Bureau of Shipping (ABS) a contract under which the US firm will supervise the shipyard's building process of three oil tankers. Under the $400,000 contract, ABS, one of the world's leading ship classification societies, in collaboration with the Vietnam Register Agency will send its supervisors to the shipyard to supervise the quality of all stages to build the oil tankers, which will begin at the end of this month, said Dinh Tien Dung, Deputy Director of the Dung Quat shipyard. The first oil tanker with capacity of 104,000 DWT is expected to be handed over to the Vietnam Oil and Gas Corporation by mid 2008…

VNA reported that Dung Quat Shipbuilding Industry Company has signed with American Bureau of Shipping (ABS.) The contract means the classification society will supervise the shipyard's building process of three oil tankers. Under the $400,000 contract, ABS, in collaboration with the Vietnam Register Agency will send its supervisors to the shipyard to supervise the quality of all stages to build the oil tankers, which will begin at the end of this month, officials from the Dung Quat shipyard. The first oil tanker with capacity of 104,000 DWT is expected to be handed over to the Vietnam Oil and Gas Corporation by mid 2008, helping meet the demand for the transport of materials and products for the Dung Quat Oil Refinery…

The Vietnam Oil and Gas Corporation (PetroVietnam) on July 4 awarded a contract to the Vietnam Shipbuilding Industry Corporation (Vinashin), for the construction of three 105,000-ton oil tankers. The oil tankers, to be built at the Dung Quat Shipyard, are to be equipped with state-of-the-art facilities satisfying latest international maritime conventions. According to Vinashin, oil tankers of this kind are normally priced and sold for $60-65m each in the world market. The first tanker is scheduled be handed over by the end of 2008; and the second and third by 2009. The Dung Quat Oil Refinery will start operations in 2009. Under a Vietnam government strategy…

PTSC Production Services and Canyon Offshore have entered into a two-year contract with BP Vietnam to provide a DP Vessel, Remotely Operated Vehicles, Survey and Positioning, and engineering solutions to support BP’s operations offshore Vietnam. Under the terms of the contract Canyon Offshore in conjunction with Petroleum Technical Services Company (PTSC), a division of Vietnam Oil and Gas Corporation, will mobilize Scorpion 25, a work class Remotely Operated Vehicle and a DP2 vessel (supplied by PTSC), primarily to carry out Inspection, Repair and Maintenance (IRM) on the 400-kilometer Nam Con Son pipeline and the Lan Tay Jacket. The Lan Tay Field is located in approximately 127 meters of water, 400 km offshore Vung Tau province in southern Vietnam.