The US$180-million investment project is Vietnam’s first mobile, large-scale loading derrick with automatic lifting capabilities, the group, known as PetroVietnam, said.

The US-based LeTourneau Technologies Inc. designed and is consulting on the project, while PetroVietnam Marine Shipyard Joint Stock Company (PV Shipyard) is building the crane.

The project is expected to be completed within 32 months.

On the same day, PetroVietnam’s Petroleum Technical Services Corp (PTSC) began manufacturing two new oil tankers, designed and built by Vietnamese enterprises, the company said.

At the ship project’s launching ceremony on Thursday, PTSC also inked four deals with Truong Son Joint Operating Company (JOC), Thang Long JOC, Hoang Long-Hoan Vu JOC and Premier Oil to provide about $450-million worth of support, including service vessels, to projects at the Te Giac Trang and Mo Chim Sao oilfields.