Petrovietnam Drilling and Well Service Corporation (PV Drilling; HOSE: PVD) has announced that its jack-up rig, PV DRILLING VIII, has signed its first drilling contract with Vietnam - Russia Joint Venture Vietsovpetro and is preparing to carry out a drilling program at the Kinh Ngu Trang field.
Based on the signed contract, PV Drilling will provide Vietsovpetro with the jack-up rig PV DRILLING VIII to carry out a drilling program at the Kinh Ngu Trang field, located in the Cuu Long basin, Block 09-2/09. The contract includes six firm wells (approximately 267 days) and six optional wells. The drilling is expected to begin in the end of August 2025.
The PV DRILLING VIII jack-up rig
The PV DRILLING VIII rig features modern technology, capable of operating in water depths of over 120 meters and drilling to a depth of approximately 9,000 meters. It has living quarters with a capacity to accommodate 120 personnel and will be equipped with the offline activity system to meet current advanced technological drilling requirements. Notably, the rig shares the same design and equipment as PV Drilling's current rig fleet, making management and operation convenient and highly efficient through the sharing of resources and experience. PV Drilling is confident that the PV DRILLING VIII rig will successfully complete all drilling programs for its client Vietsovpetro.
PV Drilling’s representative stated that the contract of providing the PV DRILLING VIII rig to Vietsovpetro not only ensures investment efficiency but also continues to strengthen the corporation's leading position in providing drilling services and drilling-related services in Vietnam and the region. This contract also helps create job opportunities for drilling-related services for its subsidiaries in the domestic market. It further serves as a foundation for PV Drilling to confidently invest more rigs to meet the rising demand for drilling rigs.
PV Drilling currently owns, manages, and operates 5 jack-up rigs and one semi-submersible tender assist drilling rig, along with chartered rigs to serve domestic clients. With nearly 24 years of experience in managing and operating modern rigs, successfully completing many complex drilling campaigns, and bringing satisfaction to even the most demanding clients in Southeast Asia, the Corporation and its subsidiaries always strive to meet the increasingly high requirements of clients.
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