On February 24th 2016 in Ho Chi Minh City, Petrovietnam Drilling and Well Services Corporation (PV Drilling) officially signed 7 contracts for provision of the rig PV DRILLING III and other well services for the drilling campaign of Murphy Phuong Nam Oil.
According to the contracts signed between the two parties, PV DRILLING III will officially serve Murphy Phuong Nam Oil’s drilling campaign at block 11-2 /11 Nam Con Son, offshore Vietnam at the end of March, 2016. In the context of the sharp fall in crude oil price from end of 2014, leading to most of drilling campaigns being shortened or cancelled, the fact that PV Drilling managed to sign the above-mentioned contracts is good news for the Corporation. This is resulted from PV Drilling’s efforts and its prestige in service provision in maintaining the production and business operations of the Corporation, especially at present when more and more rigs have been underworked.
Beside the domestic market, PV Drilling is still looking for opportunities in foreign ones, participating bidding in regional countries such as Thailand, Myanmar, Malaysia, Brunei, Indonesia to find more work for the Corporation's rig fleet.
Although the current operating rate has declined sharply, PV Drilling's management still focused on service quality and safety in production, in order to create added values for customers, sharing to overcome all difficulties and challenges, heading for a more sustainable future.
In this way, PV Drilling hopes to continue to receive the trust and satisfaction from customers/partners and enhance its reputation and brand in the drilling market both in Vietnam and in the region.