PVI Insurance Coverage for Tam Dao 05 Jack-up Drilling Rig Project [04/03/2014]

Mr. Phan Tu Giang – PVMS General Director and Mr. Truong Quoc Lam - PVI General Director at the Signing Ceremony.


The insurance contract has a total value of US$ 230 million with Vietsovpetro as the investor and PVMS as the general contractor. Tam Dao 05 jack-up rig fabrication project is expected to complete in August 2016. Accordingly, PVI will ensure the consultancy and management of all risks during the rig fabrication process. 


Tam Dao 05 Rig has a total volume of 18,000 tons and it is a big mechanical works. It is also the largest steel works to date, and important works of the mechanical engineering of Vietnam with high technology of drilling rig. PVI ranks No. 01 among reputable and capable insurance companies regarding consultancy, risk management in this area in particular and the industry in general.


2013 was the successful year of PVI with total revenue of 6,085 billion dong. In addition, PVI was successful not only in renewal of 100% customers in Oil and Gas – Energy sector but also in consultancy and provision of insurance services for the projects of Electricity, Aviation industries, the infrastructure projects of the Ministry of Transport, the key projects with FDI/ ODA capital... To assert that it is No. 1 Insurance Company on the market, PVI also sets out target for revenue growth of at least 7% in 2014.


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