Banks give PVD US$160 million to buy rig
Three commercial banks in Viet Nam, have signed contracts worth
US$158.7 million to buy the jack-up rig, PV Drilling VI, on May 6
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| Banks and PVD representatives show up for the signing ceremony in HCM City. — Photo vietcombank |
The banks include the Bank for Foreign Trade of Vietnam (Vietcombank), the Viet Nam Export and Import Bank (Eximbank) and the Southeast Asia Commercial Joint Stock Bank (SeABank).
Vietcombank is funding nearly $80 million, Eximbank, $60 million, and SeABank is funding the remaining $20 million.
Singapore-based PV Drilling Overseas, a subsidiary of PVD, will be in charge of rig construction project worth $226.7 million.
PV Drilling Overseas said the rig is capable of operating in depths of up to 400 feet (121.92 metres) underwater and could drill up to a maximum depth of 30,000 ft (9,144 metres). The rig can hold up to 150 people and is designed to allow aircraft such as Sikorsky, S61N, S92, EC - 225 Super Puma and special Mi-17.
It is expected to go into operation in March 2015.
Vietcombank has previously funded two other rigs for PVD. — VNS
