PVS signs service supply contract with Vietsovpetro

PVS invested US$110 million in building the floating storage which receives oil through subsea pipes, processing the crude oil with satisfied export requirements, treating sewage, store and export oil. Under it, Vietsovpetro committed to use the storage after FSO 5 is operational and tested successfully.

The service supply contract includes FSO 5 generation, maintenance, human resources, equipments and materials to service the oil drilling process of Vietsovpetro in Bach Ho (White Tiger) oilfield. Two sides will hand over FSO 5 in Q2 of 2009.