Invested in by the Vietnam-Russia Oil and Gas Joint Venture (Vietsovpetro) and built by PetroVietnam Marine Shipyard JSC (PV Shipyard), the oilrig features the JU-2000E model of the American Friede & Goldman Ltd.

The 120-metre jack-up rig weighs almost 18,000 tonnes and can drill to a depth of up to 9 kilometres.

The US$230 million rig, measuring 70.4 metres in length, 76.2 metres in width and 9.4 metres in height, can withstand level 12 storms and above.

Following the launch, the remaining items of the rig’s construction, which began in October 2014, are to be completed over the next nine months before being handed over to the owner.

Addressing the event, Deputy Prime Minister Hoang Trung Hai said the development of the oil mechanical manufacturing industry will help stimulate the development of related sectors.

The construction of Tam Dao 05 with 46% of local content also demonstrates Vietnam’s capacity in building oilrigs, he said.

He suggested PV Shipyard and the domestic oil manufacturing mechanics sector expand their reach to foreign markets.

PV Shipyard also built the first made-in-Vietnam jack-up rig, Tam Dao 03, weighing nearly 12,000 tonnes. The platform, which includes a helicopter deck, can drill up to 6 kilometres deep.

In addition, PV Shipyard also successfully upgraded the Tam Dao 02 oilrig for Vietsovpetro in October, 2014.