PetroVietnam Marine Shipyard of Vietnam entered a newbuilding agreement for a jack-up drilling rig with Vietsovpetro, a joint venture between Russia and Vietnam.

Vietsovpetro announced on November 3 that it had placed a newbuilding order for a $200m worth drilling rig, 'Tam Dao 05', at PetroVietnam.

The rig will go through a 32-month construction procedure, classed by ABS and VR.

Upon delivery in 2016, the 'Tam Dao 05' will join its sister rig 'Tam Dao 03' which has commenced operation from 2012.

To be constructed based on 'JU-2000E' design of Friede & Goldman, the jack-up rig has a rated water depth of up to 107 meters (350 feet), equipped for 9,144 meter drilling depth (30,000 feet).