PV Drilling's News

PV Drilling announces contract for the drilling rig "PV DRILLING III"(09/08/2017)

HO CHI MINH CITY, 8th SEPTEMBER 2017, PETROVIETNAM DRILLING & WELL SERVICE CORPORATION (HOSE: PVD) (“PV Drilling”) announced that, on 15th August 2017, PV Drilling has entered into a contract for provision of the  jack-up rig “PV DRILLING III”  to MURPHY PHUONG NAM OIL CO., LTD (“mURPHY”).

Upon successful completion of THANG LONG JOC drilling campaign, PV DRILLING III has immediately commenced operation with MURPHY in Block 11-2/11, offshore Vietnam and remained in effect for the duration required to complete the exploration well CM-1X starting from 3rd September 2017 with an estimated contract value of approx. US$2 mil.

After MURPHY drilling campaign, PV DRILLING III is scheduled to be mobilized to service a client overseas, the third foreign markets that PV Drilling won contracts in October 2017. The continuation of contract awards and signing to PV Drilling and the successful expansion to new markets recently not only reflect the efforts of PV Drilling to overcome the market difficulties but also bring a hope for brighter prospect of drilling market in the coming time.
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