On November 26, 2024, in Hanoi, the Consortium PVD-POS between Petrovietnam Drilling & Well Service Corporation (PV Drilling) and PTSC Offshore Services Joint Stock Company (PTSC-POS), together with PETROVIETNAM DOMESTIC EXPLORATION PRODUCTION OPERATING COMPANY LIMITED (PVEP-POC), held a signing ceremony for the bidding package "Provision of design and construction services for the well plugging and abandonment of Song Doc field, Song Doc field decommissioning project, offshore Vietnam”.
Attending the contract signing ceremony for the Song Doc field decommissioning project, on the side of Vietnam Oil and Gas Group (PVN), there were Mr. Tran Binh Minh and Mr. Tran Hong Nam - Members of the Group’s Board of Directors, along with Heads/Deputy Heads of the PVN's functional departments. On the side of Petrovietnam Exploration Production Corporation (PVEP), there were Chairman of the Board of Directors Nguyen Thien Bao, Vice President Hoang Ngoc Trung and members of the Board of Directors, Executives Board, and functional departments. Representing the Investor were Managing Director of PVEP-POC Le Duc Tue and members of the Board of Management, managers, and staff of specialized departments. In addition, the ceremony was also attended by representatives of Central Ministries and Departments.
On the side of the joint venture PVD – POS, there were Chairman of the Board of Directors Mai The Toan, PV Drilling’s President and CEO Nguyen Xuan Cuong along with members of the Board of Directors and the Board of Management; Member of PTSC’s Board of Directors Nguyen Xuan Ngoc and Managing Director of PTSC - POS Vu Dinh Cao Son.

The contract signing ceremony between joint venture PVD-POS and PVEP-POC was witnessed by Leaders of PVN, PVEP, PV Drilling, and PTSC
The Song Doc field abandon project is the first field abandon project in Vietnam, holding significant importance and marking a breakthrough for the domestic oil and gas industry. The project adopts a new bidding strategy, for the first time implementing a comprehensive bidding approach, integrating various work packages into a single process.

Managing Director of PVEP-POC Le Duc Tue gives a speech
On behalf of the Investor, Mr. Le Duc Tue, Managing Director of PVEP-POC, congratulated the Consortium PVD-POS on winning the bid for the "Provision of design and construction services for the well plugging and abandonment of Song Doc field, Song Doc field decommissioning project, offshore Vietnam” under a turnkey contract. In which, PV Drilling, as the lead member of the consortium, is responsible for Package 1 - Well plugging and abandonment, and PTSC-POS is responsible for Package 2 - Removal and decommissioning of Song Doc field, based on the evaluation of transparent technical, commercial, and experience criteria of the units. He also expressed his expectation that the consortium would implement the work smoothly, ensuring safety, efficiency, and adherence to the schedule.

Representative of the consortium PVD-POS, PV Drilling’s President and CEO Nguyen Xuan Cuong gives a speech
Representing the consortium PVD-POS, President and CEO of PV Drilling Nguyen Xuan Cuong affirmed that throughout the preparation process, despite facing numerous challenges with the pressure to ensure technical and safety conditions, especially cost issues, both PV Drilling and PTSC-POS have closely cooperated, mobilizing maximum resources with high determination to develop the most optimal proposal for the project. He also shared additional information about the great opportunities for PV Drilling and PTSC as the workload in the domestic market is forecasted to increase in the near future, and at the same time, investors can be completely assured of controlling costs for this type of project. In addition, PV Drilling is also working with clients in Brunei, Petronas, and others to carry out the field abandon work as planned.

Mr. Tran Binh Minh – Member of PVN’s Board of Directors giving a speech
Speaking at the signing ceremony, Mr. Tran Binh Minh, a member of the PVN Board of Directors, congratulated all parties on reaching a final agreement on the contract package. He also noted that this is a special project that has lasted for more than 10 years, since the Group resumed exploitation and recovery to create added value for resources and contribute to the state budget. The abandon of the field and the removal of exploitation equipment and facilities demonstrate the professionalism and seriousness of Petrovietnam and its member units throughout the process of exploration, exploitation, and eventual decommissioning to ensure safety and environmental factors. This is the first turnkey service to be implemented, demonstrating the ability to provide high-tech oil and gas services at highly competitive prices by the Group's units such as PV Drilling and PTSC, opening up new directions for this service not only domestically but also internationally.
The combination of PV Drilling's experience and expertise in well plugging and abandonment, together with PTSC-POS's strengths in offshore decommissioning, will create a strong consortium capable of meeting the demanding requirements of the project, bringing added value and cost optimization for operators. Therefore, the signing of the Song Doc field abandon contract is not only a significant milestone, opening up opportunities for cooperation in the abandon field, but also a testament to the growth of the Vietnamese oil and gas technical services industry.

The Memorandum of Understanding signing ceremony between PV Drilling ang PVEP-POC
Also at the ceremony, representatives of PVEP-POC and PV Drilling signed a Memorandum of Understanding (MOU) on the provision of drilling rigs and well technical services for upcoming PVEP-POC drilling programs, demonstrating a commitment to strategic cooperation and lays a solid foundation for important future oil and gas drilling programs.
PV Drilling's PR Team.