VIETNAM: PV Drilling has signed the minutes of discussions with Bach Dang related to the charter of a jackup for the operator's proposed drilling campaign in Blocks 103 and 107 off north Vietnam.
Both parties have agreed on the key points of the charter, including the structure of operating and non-operating day rates, among other things. The discussion relates to newbuild PV Drilling II, but the contractor may offer an alternative unit. Bach Dang plans to drill two wells in water depths of around 40 msw (132 fsw) with a duration of 60 days, tentatively commencing in the fourth quarter of 2009
VIETNAM: PV Drilling jackup PV Drilling 1 will imminently complete its last well with Hoan Vu off Vietnam, but the unit will remain on location for non-drilling operations for a few more days.
It is understood Hoan Vu has extended the charter to use the rig to carry out lifting related platform repairs. The rig will depart around May 20 to drill one 65-day well with Vietgazprom in Block 112 with an ETA on location of three to four days after departure. The rig will next carry out a one-well plus one-well option campaign with Phu Quy in Block 15-1/05 and Block 16-2 in the Nam Con Son Basin, commencing around August. The duration is around 70 days including test. If the option well is not exercised, the rig will be free around November for a new charter.
VIETNAM: It is understood Vietsovpetro plans to issue bid documents to PV Drilling regarding its planned charter of newbuild jackup PV Drilling II for work off Vietnam, as part of the procurement regulations in Vietnam.
PV Drilling expects to receive the bid documents in around two weeks. Contract negotiations will follow after the operator has received the commercial proposal from PV Drilling. The work scope covers a duration of two years, commencing around October 2009. Meanwhile, the newbuild is on schedule to be delivered from Keppel FELS in Singapore around September 20. It will mobilise directly to work with Vietsovpetro upon contract signature.
MYANMAR: PV Drilling has received prequalification documents from Twinza Oil, and has confirmed its intention to bid on the jackup tender for the operator's drilling campaign on the Yetagun East Block (YEB) off Myanmar.
The other contractors that participated in the prequalification include Transocean, Seadrill, Atwood, Maersk, Premium Drilling and Nabors, offering a number of units for the proposed tender. The operator has plans to drill two exploration wells including two geological sidetracks, with a total duration of around 65 days without sidetracks and 85 days inclusive. Water depths range between 30 and 50 msw (99 fsw to 165 fsw
VIETNAM: PetroVietnam has exercised a back-in right to 15% of Premier Oil’s Block 12W off south-east Vietnam containing the under-development Chim Sao and Dua oil project. Premier said that PetroVietnam Exploration & Production (PVEP) had issued a participation notice to take up the 15% equity in return for payment of past costs. As a result Premier's interest in Block 12W will be reduced to 31.875% from 37.5%. The other partners in Block 12W are Santos (37.5%) and Delek Energy (25%), but their equity is likely to be less following the back-in. Premier said the development plan for Chim Sao was re-engineered from a double to a single platform development and had resulted “in significant cost reductions”. Construction work on the wellhead platform is continuing at Petroleum Technical Services Corporation in Vung Tau. The issue of who will supply a leased floating production, storage and offloading vessel is still unresolved.
Source: RigPoint – Petrodata and RigZone