On November 2, 2025, Petrovietnam Drilling and Well Service Corporation (HOSE: PVD) and Branch of Vietnam National Industry – Energy Group – Phu Quoc Petroleum Operating Company (PQPOC) signed a Contract for the Provision of the PV DRILLING VI jack-up drilling rig for the 2027 development drilling program of the Block B&48/95 and Block 52/97 Field Development Project, offshore Southwest Vietnam.
The signing ceremony saw the attendance of senior leaders from both sides, demonstrating a strategic cooperation relationship in the value chain of the Block B Gas Project – one of the nation's key energy projects.
Mr. Le Tran Minh Tri, Deputy General Director of PQPOC (seated left), and Mr. Nguyen Dinh Duong, Vice President of PV Drilling performed the contract signing ceremony in the presence of Leaders from both sides.
According to the contract, the PV DRILLING VI rig will perform 40 development wells over a period of approximately 305 days, with deployment anticipated to commence between March 2027 and August 2027.
The PV DRILLING VI rig is a new-generation jack-up rig of the Keppel FELS MOD V B Class design. It is currently operating in Malaysia and is expected to stay there until early 2027 before returning to Vietnam to execute the drilling program for PQPOC under the newly signed contract.
PV DRILLING VI jack-up rig.
Affirming trust and cooperation capability
Speaking at the ceremony, Mr Le Tran Minh Tri, Deputy General Director of PQPOC emphasized that the contractor selection process was conducted transparently and fairly, and PQPOC has absolute confidence in PV Drilling’s technical capacity, operational experience, and commitment to adhering to international standards. He affirmed that this Contract is a significant milestone in the Block B Gas Field Development Project, simultaneously affirming the strategic partnership between PQPOC and PV Drilling, which is built on a foundation of trust, professionalism, and a shared commitment to the success of Petrovietnam.
On the side of PV Drilling, Mr. Nguyen Xuan Cuong, President and CEO, expressed his gratitude to PQPOC for their trust in selecting PV Drilling as the contractor to provide the drilling rig for the project, and shared: “With nearly 24 years of establishment and development, PV Drilling has deployed hundreds of drilling campaigns for major clients both domestically and internationally, always ensuring high levels of safety, quality, and efficiency. We are committed to executing PQPOC’s drilling program on schedule, in accordance with technical requirements, and will coordinate closely to collectively achieve the common goals of Petrovietnam.”
Mr. Nguyen Xuan Cuong, President and CEO of PV Drilling speaking at the signing ceremony.
Mr. Pham Xuan Phuc, General Director of PQPOC highly appreciated the efforts and thorough preparation by both parties, affirming that the project carries special importance and meaning for Petrovietnam and the Vietnamese energy industry, and expressed confidence that with the spirit of cooperation and the highest commitment, the drilling program will be implemented successfully, on schedule, and achieve high efficiency.
Mr. Pham Xuan Phuc, General Director of PQPOC expressed gratitude to both parties at the signing ceremony.
Strengthen cooperation in the Petrovietnam value chain
The signing of the contract to provide the PV DRILLING VI drilling rig to PQPOC not only ensures revenue and financial efficiency for PV Drilling in 2027 but also contributes to maintaining the domestic drilling market share, in line with Petrovietnam’s orientation on strengthening internal cooperation and optimizing the value chain among subsidiaries, working together to implement the Block B&48/95 and Block 52/97 Gas Field Development Project – one of the nation's important, key energy sector projects.
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