News & Events

News & Events

PV Drilling attended Petronas service quality assessment meeting

On June 12, 2024, PetroVietnam Drilling & Well Service Corporation (PV Drilling) attended a Service Quality Assessment Meeting hosted by Petroliam Nasional Berhad (Petronas) in Malaysia. 

Chaired by Mr. Ismail Aslam Abdullah – General Manager, Well Technical Assurance & Solutions, on behalf of Petronas Carigali, and Mr. Dinh Quang Nhut – Vice President of PV Drilling, the meeting was attended by experts and personnel from both companies specializing in HSEQ Management, Contract, Well Planning, Supply Chain Management, Drilling and Project Management.  

The whole meeting

At the meeting, PV Drilling presented a summary report on the operations of two jack-up drilling rigs currently contracted by Petronas Carigali, PV DRILLING I and PV DRILLING VI. The report included comprehensive assessment of various stages such as safety, performance, quality management, key milestones as well as lessons learned in the first quarter of 2024. 

Petronas Carigali recognized PV Drilling’s efforts to operate amidst various external challenges due to new regulations in Malaysia, shortage of local manpower and disruptions in the supply chain. Despite the challenges, PV Drilling effectively deployed and operated three jack-ups simultaneously in two different areas offshore Malaysia (two contracted by Petronas Carigali and one by SEA Hibiscus). Prominently, PV Drilling team successfully positioned the rig PV DRILLING VI at the most challenging location in the eastern Malaysian water. The exceptional performance of PV DRILLING VI contributed to the early completion of the Bokor E Project 40 days ahead of schedule. 

As the meeting concluded, Petronas Carigali representatives expressed the expectation to continue the cooperation with PV Drilling in upcoming exploration and production (E&P) projects, emphasizing the importance of strengthening the communication and mutual support to enhance the operational capabilities of both companies, aiming to achieve safe, timely, and effective performance. 

Currently, PV Drilling has three jack-up rigs operating in Malaysia. PV DRILLING I and PV DRILLING VI both secured drilling contracts with a firm two-year term extending to early 2026, with the option for a three-year extension. Meanwhile, PV DRILLING III will continue its drilling operations in Malaysia until the first quarter of 2025, before relocating to Indonesia to perform a three-year firm drilling contract with a two-year extension option. 

Apart from Malaysia, PV Drilling is also operating the jack-up rig PV DRILLING II in Indonesia and the deep-water tender-assist rig PV DRILLING V in Brunei safely and effectively. 

The first half of 2024 has seen favorable conditions for the oil and gas market including the average Brent crude oil price at 83 USD/barrel, the global jack-up rig utilization rate exceeding 87% and jack-up day rates surpassing 100,000 USD/day. With numerous drilling projects slated to commence in Vietnam in 2025 such as Block B – O Mon, Lac Da Vang, Su Tu Trang, Block 05-1(a), etc…. PV Drilling is confident and well-placed to seize upcoming opportunities, successfully execute drilling campaigns for clients, surpass its 2024 business plan targets, and achieve even more remarkable milestones in the years to come.

PV Drilling's PR Team.

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