State President Truong Tan Sang joined leaders of ministries and agencies, as well as representatives from the Russian embassy and the Russian Consulate General in Vietnam, at the ceremony to launch the Moc Tinh oil rig, which was held to mark the 50th anniversary of PetroVietnam (November 27).

The drilling rig is a key national mechanical project invested by PetroVietnam and with PetroVietnam Marine Shipyard as the EPC contractor.

The rig was designed and manufactured by Petroleum Equipment Assembly and Metal Structure JSC (PVC-MS) and is the largest oil platform in Vietnam with a total weight of over 14,000 tonnes.

President Sang said that this a milestone in the history of Vietnam’s oil and gas sector.

He emphasized that PetroVietnam’s staff has built an important project for the nation, especially for the sea-based economy, to ensure energy security and maintain the nation's sovereignty over its sea and islands.

Mr Sang asked the group’s branches to promote further achievements and experiences in the future, continue implementing ongoing projects, build new drilling rigs and mobilise the sector’s human resources, in addition to reducing the national economy's import surplus in line with the development strategy for the oil and gas sector.

At the ceremony, the Russian-Vietnamese oil and gas joint venture, Vietsovpetro, signed a contract with PV Shipyards to build another 90m jack-up drilling rig in the future.