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Introduction

Petrovietnam Drilling & Well Service Corporation (PV Drilling) was established on the foundation of PTSC Offshore, a subsidiary of PTSC. The establishment of PV Drilling aimed for building and developing a specialized oil and gas technical service provider of Vietnam National Industry - Energy Group (formerly Vietnam National Oil and Gas Group) - PVN, in order to enhance the initiative in drilling and drilling-related services in Vietnam.

PV Drilling is a professional provider of drilling rigs and drilling-related services as well as manpower supply for onshore and offshore drilling operation. During 23 years of establishment and development, PV Drilling has significantly developed and become one of PVN’s leading subsidiaries and a prestigious drilling contractor in the local and regional markets. PV Drilling is going to expand its operation to further deep water areas and overseas markets to contribute more to exploration and production of oil and gas resources for Vietnam and the world.

7

Proud to own 7 modern drilling rigs

13

Subsidiaries

2754

Employees

28309billion
VND

Total asset

The primary ingredient that made up the success of PV Drilling is the dedicated and outstanding human resources who incessantly pursue knowledge and perfection in mastering the technology, developing the services and creating added values for clients. Therefore, PV Drilling always concentrates on building and developing a human resource with great competence and consider it as top priority in the corporate strategy of development. To serve such purpose, PV Drilling applies a suitable recruitment policy, a systematic career development plan as well as a competitive compensation and benefits scheme for attracting and maintaining talents. At PV Drilling, we consider human factor as the ultimate component for sustainability and breakthrough and this is a one of core values of PV Drilling.
About us

Mission - Vision

Vision

To be an internationally reputable and reliable drilling contractor and drilling - related services provider in the oil and gas industry.

Mission

To provide premium drilling and drilling-related services in the regional market and create value added for clients by delivering services with high quality at competitive prices.

 

Core values

People

People
  • Maintain positive workplace relationship with each other.
  • Nurture passion by sharing knowledge, experience, ideas and information with each other
  • Create a positive workplace environment where every employee can learn, contribute, and excel in his/her field of work together with the continuous development of PV Drilling.
  • Ensure the safety of our people and our workplace.

Integrity

Integrity
  • Always behave in accordance with the Law and our Code
  • Raise questions and concerns when we notice inappropriate conducts-
  • Preserve PV Drilling as well as customers’ assets.
  • Being accountable for our own action

Professionalism

Professionalism
  • Have the required skills and capability to do our work effectively and efficiently.
  • Respect all commitments we have made and strive to generate the best results by taking suitable approaches and minimize costs.
  • Constantly develop and innovate to create value added services for customers.
  • Make decisions based wholly on the interest of PV Drilling and the long-term interest of our customers and investors.
Core values

Organizational Structure

Organizational Structure
Organizational Structure

Leadership

Board of Directors
Board of Management
Board of Supervisors
BOD's Committees
Mr. MAI THE TOAN

Mr. MAI THE TOAN

Chairman
Mr. NGUYEN DUYEN HIEU

Mr. NGUYEN DUYEN HIEU

Vice Chairman of the Board of Directors
Mr. NGUYEN XUAN CUONG

Mr. NGUYEN XUAN CUONG

Member, PV Drilling’s Board of Directors;
President & CEO, PV Drilling.
Mr. NGUYEN THE SON

Mr. NGUYEN THE SON

Non-executive member, PV Drilling’s Board of Directors
Mr. DOAN DAC TUNG

Mr. DOAN DAC TUNG

Non-executive member, PV Drilling’s Board of Directors.
Mr. PHAM XUAN SON

Mr. PHAM XUAN SON

Lead Independent Member, PV Drilling’s Board of Directors.
Mr. TRAN VAN HOAT

Mr. TRAN VAN HOAT

Independent Member, PV Drilling’s Board of Directors.
Mr. NGUYEN XUAN CUONG

Mr. NGUYEN XUAN CUONG

Member, PV Drilling’s Board of Directors
President & CEO, PV Drilling.
Mr. HO VU HAI

Mr. HO VU HAI

Vice President
Mr. DO DANH RANG

Mr. DO DANH RANG

Vice President
 
Mr. NGUYEN CONG DOAN

Mr. NGUYEN CONG DOAN

Vice President
Mr. ĐINH QUANG NHUT

Mr. ĐINH QUANG NHUT

Vice President
Mr. NGUYEN DINH DUONG

Mr. NGUYEN DINH DUONG

Vice President
Mr. NGUYEN BINH HOP

Mr. NGUYEN BINH HOP

Member of the Board of Supervisors, PV Drilling
Mr. LE HONG PHUONG

Mr. LE HONG PHUONG

Head of The Board of Supervisors, PV Drilling
Mrs. NGO THI HAI ANH

Mrs. NGO THI HAI ANH

Member of the Board of Supervisors, PV Drilling 
BOD's Committees

History

2025

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2025
2025

  • In 2025, PV Drilling achieved a decadal peak in revenue and net profit, delivering double-digit growth and substantially outperforming the targets ratified at the Annual General Meeting. This period marked the successful self-reactivation and provision of the PV DRILLING VIII jack-up rig for the Vietsovpetro campaign. Simultaneously, PV Drilling accelerated its Capital Expenditure (CAPEX) to recommission the PV DRILLING IX, with its commencement of operations scheduled for April 2026 to drive incremental growth in core business for the subsequent years. The year 2025 served as a benchmark for PV Drilling’s operational excellence during the 2015–2025 cycle, evidenced by optimized drilling efficiencies, human capital development, and corporate governance. Furthermore,we shall expand our global footprint through market penetration into West Africa, Australia, and India. This was supported by the integrated 'ONE PVD' strategic framework, resulting in multiple accolades for statutory reporting, HSEQ protocols, and ESG integration.

2024
2024

  • All offshore rigs are in operational status throughout 2024 in key markets such as Malaysia, Brunei, and Indonesia, with nearly 100% operational efficiency and maintaining Zero LTI record. They demonstrate the outstanding management and operational capabilities of PV Drilling in oversea market. PV Drilling also invested, including the Hydraulic Workover Unit (HWU), the jack-up rig PV DRILLING VIII, other technical equipment, and the establishment of a joint venture in Indonesia. Notably, PV Drilling is awarded the contract for the Song Doc field-decommissioning project where PV Drilling serves as the lead contractor in a consortium with other Petrovietnam subsidiaries within the value chain. Furthermore, the achievement of prestigious awards such as Asia's Corporate Excellence Award (APEA), Best Workplace in Asia, Top 10 Best Corporate Governance Enterprises – Large Cap Group, Top 20 Best Annual Reports – Non-Financial Sector (Ranked First), etc., have contributed to enhancing the brand value of PV Drilling in the international market.

2023
2023

  • At the end of 2023, Rig utilization of PV Drilling’s Rigs were 3.9 Rigs and rig operation were 99.6%. This records were higher than the year 2022 with 3.4 Rigs and 98.2%. The rig rate is also 30% higher than the same period. PV DRILLING III received the ‘Best Rig’ award (2023 Performance Focused Recognition) in Malaysia and letter of commendation from client Hibiscus Petroleum for its excellent performance in the evaluation period of the last 6 months of 2023. The TAD – PV DRILLING V has been awarded ‘Rig of the Year’ for the category of rigs currently being supplied for Shell Global. Besides, PV Drilling was awarded Best HSSE performance in Indonesia and Best Incident Rate Offshore Company by IADC-SEAC. Especially, PV Drilling honored as Enterprise Best Meet Vietnamese business culture standards by the Vietnam Association of Business Culture Development.

2022
2022

  • All the rig fleet has been stably and continuously operated since quarter 2/2022. During the year, two jack-up rigs mainly operated in Vietnam, the other four rigs including two jack-up rigs, one land rig, one TAD rig operated internationally. 2022 also marked a milestone of PV Drilling’s official paticipation in the Indonesian protential market with two consecutive drilling contracts; another milestone ccould be mentioned here was the return of the TAD – PV DRILLING V rig to serve for BSP’s drilling campaign in Brunei from January, 2022. During the year, the TAD rig completed two well ahead of time, which was highly appreciated and awarded by the client. Besides, the TAD rig was ranked No. 2 (runner-up) in term of efficiency among rigs of the same kinds currently operating for Shell Global. Another remarkable achievement established by the jack-up PV DRILLING III rig in Malaysia at the beginning of quarter 1/2023 was its new record for drilling the longest well in Malaysia with a length of 6,963m.

2021
2021
  • Maintain the stability and continuity of business operation in the context of Covid-19 pandemic in Vietnam as well as in the region; focussing on the implementation of such long-term contracts as the provision of PV DRILLING 11 land rig for BRS Phase II drilling program in Algeria from August 2021; completion of the re-activation and integration of the new DES into the TAD – PV DRILLING V rig, making it ready for the deep water drilling program in Brunei from January 2022; implementing the provision of PV DRILLING III jack-up rig with long-term contract to Repsol Malaysia from 12/2021.
2020
2020
  • PV Drilling’s strategy of market expansion has marked another success in 2020 with all 4 jackup rigs operating in Malaysia within the first two quarters. 2020 also marked the first time when PV Drilling successfully signed a contract for provision of drilling service in Cambodia. Another milestone in 2020 is PV Drilling’s key investment project, that is the investment in a drilling equipment set (DES) with suitable weight as the client’s requirements, together with the reactivation of the TAD – PV DRILLING V so that this semi-submersible tender assist drilling rig can timely serve for the drilling campaign in Brunei, expected to start in 2021.
2019
2019
  • PV Drilling successfully signed the longest-term contract since its establishment, supplying the Semi-submersible Tender Assist Drilling (TAD), PV DRILLING V for Brunei Shell Petroleum (BSP) drilling campaign in Brunei. This contract not only demonstrates PV Drilling’s ability in managing and operating the TAD rig but also provides PV Drilling an opportunity to deeply penetrate into Brunei’s drilling market as well as other potential regional markets to expand its drilling and well technical services.
  • With 5/6 drilling rigs operating overseas, 2019 is considered a remarkable milestone in realizing PV Drilling’s strategy of service expansion to overseas markets.
2018
2018

  • Successfully put the Risk Management System into operation in accordance with corporate governance and standards of ISO 310000:2009, COSO etc., which strongly contributes to the sustainable goal of PV Drilling; continued to remain the appearance of 4 owned rigs at overseas markets.

2017
2017
  • Converted its representative office in Malaysia to branch; establish a new branch in Thailand, opening more opportunities for PV Drilling to approach and supply drilling and drilling-related services at these regional potential markets.

  • End of 2017, PV Drilling successfully sent simultaneously 4/6 owned rigs to overseas markets.

2016
2016
  • PV Drilling inaugurated the operation of its Myanmar Branch Office – PVD Myanmar. In the same year, PV Drilling also achieved a major success in its overseas expansion strategy via winning the contract for a drilling campaign of Total Myanmar.

2015
2015
  • PV Drilling took the delivery of PV DRILLING VI - a modern jack-up rig of the latest generation with multiple prominent and advanced features.
  • This year marked the 3rd time PV Drilling proudly received the award “The Best Offshore Drilling Contractor in Asia in 2015” from World Finance”.
2014
2014
  • This year marked PV Drilling’s best business performance in the last 5 years (2010 - 2014) with the total asset value exceeding 1 billion USD, remarkable revenue of 20,884 billion VND (equivalent to 1 billion USD) and a profit after tax of 2,419 billion VND - respectively increasing 40% and 28% over year 2013.
     
2013
2013
  • PV Drilling marked its own development footnote by simultaneously received the two honored awards including “The Most Admired ASEAN Enterprise” in “Growth – Large Company” Category awarded by ASEAN Business Award Committee in Brunei and the “The Best Offshore Drilling Contractor in Asia 2013” by World Finance in London.

     
2012
2012

  • PV Drilling completed the procedures to purchase 51% shares in Vietubes Joint-Venture, the sole high-tech tubular threading factory in Vietnam; 

  • Put the Joint Venture PVD – OSI into operation;

  • Proudly received the award “The Best Oil and Gas Drilling Contractor in Asia 2012” from World Finance.

2011
2011

  • PV Drilling took the delivery and put into operation the First High-tech Semi-submersible Tender Assist Drilling (TAD) Rig - PV DRILLING V. 



2010
2010
  • PV Drilling reinforced its position as a professional drilling contractor by successfully operating three jack-up rigs and one land rig; established PVD Baker Hughes, PVD Invest (new) and PVD Deepwater.
2009
2009
  • PV Drilling received and launched two (2) other offshore jackup rigs named PV DRILLING II and PV DRILLING III.
2008
2008
  • PV Drilling completed an important M&A project to merge with PVD Invest, increasing the total corporate asset value above VND 12,000 billion and the charter capital of VND 2,105 billion; establishing the joint ventures PVD - Expro and PVD Tubulars Management, reinforcing the strategy of cooperation with foreign partners to strengthen its competitiveness and develop its scope of services; completed and put into operation the Enterprise resource management system ERP Oracle from 01/01/2008.
2007
2007

  • PV Drilling officially changed into the Corporation;

  • Inaugurating the first offshore PV DRILLING I jack-up rig and the PV DRILLING 11 land rig;

  • Establishing PVD Drilling Division, PVD Well Services, PVD Offshore, PVD Invest and PVD Training.


2006
2006
  • PV Drilling’s stock symbol “PVD” was officially listed on Vietnam Stock Exchange;
  • Established PVD Trading and Technical Services Company, currentlt PVD Tech;
  •  Established BJ-PV Drilling Joint- Venture;
  • Established Project Admin Office in Algeria (PVD Algeria).
2005
2005
  • PV Drilling signed the contract of building its first jack-up drilling rig, simultaneously converted into a joint-stock company and started to approach available investment channels on the financial market in order to gather resources for its business development.
2004
2004

  • PVD Logging was established to diversify PV Drilling’s services, particularly those with high content of advanced technology.

2003
2003

  • PV Drilling completed the set-up and implementation of the quality management system (QMS) ISO 9001:2000 on 21/01/2003 with the certification by DNV. The integration of such QMS ensured the quality commitment as well as the compliance of PV Drilling with international standards and procedures.


2002
2002

  • PV Drilling kick-started the strategic planning for developing “a drilling contractor of Vietnam” with the consultation of PricewaterhouseCoopers (PwC); in the meantime, PV Drilling completed the set-up of its first three direct subsidiaries including Drilling Division, Well Services Division and NASOS.


2001
2001
  • Petrovietnam Drilling and Well Service Company (PV Drilling) was established on the foundation of PTSC Offshore and was transferred a drilling project at mien Vong, Hanoi.

Achievements

FAST500

FAST500

2026
Asia Pacific Enterprise Awards

Asia Pacific Enterprise Awards

2024
Best Companies to Work for in Asia

Best Companies to Work for in Asia

2024
Enterprise best meets Vietnamese business culture standards

Enterprise best meets Vietnamese business culture standards

2023
Top 10 Best Corporate Governance

Top 10 Best Corporate Governance

2022, 2023, 2024, 2025
CSI: Top 100 Sustainable Businesses in Vietnam

CSI: Top 100 Sustainable Businesses in Vietnam

2016, 2025

Top 10 Enterprises with most contributions to HOSE development

Top 10 Enterprises with most contributions to HOSE development

2025, 2016
The Labor Medal of First Class Honor

The Labor Medal of First Class Honor

2011
Top brands

Top brands

2016
Top 10 Prominent Equitized State Companies

Top 10 Prominent Equitized State Companies

2014
The most admired ASEAN Enterprises in Growth-Large Company Category Awarded by ASEAN Business Award Committee

The most admired ASEAN Enterprises in Growth-Large Company Category Awarded by ASEAN Business Award Committee

2013
Top 50 companies with largest tax submission in Vietnam

Top 50 companies with largest tax submission in Vietnam

2014, 2015, 2016
Top 50 Best Listed Firms in Vietnam

Top 50 Best Listed Firms in Vietnam

2013, 2014, 2015, 2021, 2025
The First Prize of Sustainable Report

The First Prize of Sustainable Report

2015
The best oil and gas drilling contractor in Asia

The best oil and gas drilling contractor in Asia

2012, 2013, 2015
Best Annual Report

Best Annual Report

2010, 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2019, 2020, 2021, 2023, 2024, 2025
Top 49 Enterprises with Best Labor Incentives

Top 49 Enterprises with Best Labor Incentives

2015, 2016
Top 500 Largest Enterprises in Vietnam

Top 500 Largest Enterprises in Vietnam

2014, 2015, 2025
The Golden Prize in the National Quality Ranking in the Category of Large Service Company International Association of Drilling Contractors (IADC)

The Golden Prize in the National Quality Ranking in the Category of Large Service Company International Association of Drilling Contractors (IADC)

2015
International Association Of Drilling Contractors

International Association Of Drilling Contractors

PV Drilling Culture

   

Corporate culture is the soul and driving force behind the development of an enterprise. More specifically, it represents the values and beliefs that are accumulated, nurtured, and recognized over time. Culture is a key competitive advantage, enabling sustainable and outstanding success. It also serves as the glue that binds employees together, establishing shared standards and contributing to the long-term development of the organization. With over 20 years of formation and development, PV Drilling is proud to have built a distinctive identity known as the “PV Drilling Culture.”

 

 

PV Drilling  Culture handbook

Brand Identity System

PetroVietnam Drilling & Well Service Corporation (PV Drilling) is a member of Vietnam National Industry – Energy Group (PETROVIETNAM). The Corporation was established on November 26, 2001, under Decision No. 647/QĐ-VPCP issued by the Prime Minister, with the mandate to develop drilling and related technical services. This initiative aims to increase state budget revenue, contribute to building a comprehensive and integrated oil and gas industry for the country, and support the protection of national sovereignty over seas and islands.

Over 24 years of formation and development, PV Drilling has grown into a leading drilling contractor in the region with a global reach. The Corporation currently owns six modern jack-up rigs and one deepwater rig, with a workforce of 2,003 employees and total assets of VND 23,233 billion (as of September 2025). PV Drilling holds a significant market share in Viet Nam and has established a strong reputation in Brunei, Malaysia, Indonesia, Japan, and other markets, while also expanding into the West African drilling market after successfully pioneering operations in North Africa.

On its journey toward global expansion, PV Drilling has continuously enhanced service quality, diversified its service portfolio, and adopted international business practices, while preserving its distinctive corporate culture. This approach has helped refine and strengthen the PV Drilling brand image among both domestic and international partners and customers.

PV Drilling’s brand identity system is developed based on PETROVIETNAM’s brand identity, combined with the PV Drilling sub-brand. It reflects a modern identity, a distinctive character, and a strong sense of pioneering energy across all of the Corporation’s activities.

  


This document provides an introduction to and guidelines for the application of PV Drilling’s brand identity system, covering all elements including logo design, typography, supporting graphics, and brand colors.


PV Drilling Brand Identity         
 

Code of Conduct

The PV Drilling Code of Conduct is built upon our core values and applicable laws and regulations, serving as a guiding framework for appropriate conduct in our daily business operations. It supports the realization of our vision: “To become a trusted and reputable drilling contractor and provider of oilfield technical services worldwide.”

 


PV Drilling Code of Conduct        
 
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