On August 9, 2024, our jack-up rig PV DRILLING III completed the 14-well drilling campaign for Hibiscus Malaysia Limited in Bunga Orchid field, Block PM3-CAA in the overlapping territorial waters between Malaysia and Vietnam. The Rig PV DRILLING III was then demobilized from Bunga Orchid C wellhead platform (“WHP”) by HML’s tugboats at 2 pm the same day.
PV DRILLING III commenced drilling for Hibiscus Malaysia Limited at Block PM3-CAA on October 30, 2021. The project faced unprecedented challenges due to the negative impacts of COVID-19 on international trade and severe disruptions of the global supply chain. Despite these obstacles, PV Drilling ensured the timely mobilization of the Rig to the work site through concerted efforts and expertise.
PV DRILLING III jack-up rig
For 860 days, the Rig drilled 14 wells in the waters between Malaysia and Vietnam while maintaining Zero LTI (Lost Time Incident) and achieving multiple accolades from the client as well as from PETRONAS. These include the Best Rig of the Year award in 2023 and the record for the longest Extended Reach Drilling (“ERD”) in terms of measured depth (“MD”) for two consecutive years 2023 and 2024. In addition, the successful drilling of the Bunga Aster-1X exploration well by PV DRILLING III also contributed to the increase in reserves and crude oil production in Bunga Orkid Delta field in 2024.
Previously, the Rig also engaged in exploration and development drilling programs at various fields, including Bunga Lavatera, Bunga Pakma, Bunga Kekwa, Bunga Saffron, etc. from 2017 to 2023.
Immediately after demobilization from Hibiscus Malaysia Limited’s Bunga Orchid C WHP, PV DRILLING III was moved to the waters off Kinabalu, Sabah State, Malaysia. There is set to drill 11 development wells at South Furious field (SF30) for SEA Hibiscus Sdn Bhd, another subsidiary of Hibiscus Petroleum Berhad. The SF30 campaign is expected to conclude in February 2025.
PV Drilling's PR Team.