Jakarta, November 19, 2024 – In a significant development for its operations in Indonesia, PV Drilling has officially signed an extension for the provision of the jack-up rig PV DRILLING II with Pertamina Hulu Energi ONWJ (PHE ONWJ). The signing ceremony took place at PHE ONWJ’s office in Jakarta, with representatives from PV Drilling, its local partner PT Jimmulya, and Pertamina Management in attendance.
The top management of Pertamina, PV Drilling, and Jimmulya at the Signing Ceremony of the Amendment for Contract Extension in Jakarta, Indonesia, on November 19, 2024
Under the extension duration, PV DRILLING II will continue to support PHE ONWJ’s long-term offshore drilling campaign in offshore Northwest Java for an additional three years, ensuring its presence until at least the end of 2028. Since commencing operations for PHE ONWJ in December 2022, the PV DRILLING II rig has delivered exceptional performance, maintaining an operational efficiency of over 99% while ensuring the highest safety standards. This track record has solidified the trust of PHE ONWJ, leading to this significant contract extension.
Earlier, from November 8 to 11, 2024, the Management Team from Pertamina EP (Pertamina) visited and collaborated with PV Drilling and its subsidiaries in Vietnam. The visit included a tour of PV Drilling’s shorebase, warehouse systems, workshops, and infrastructure in Vung Tau City, as well as discussions aimed at enhancing cooperation between the Parties.
On November 8, Pertamina EP visited PV Drilling's shorebase in Vung Tau City, where they met key staff and toured various facilities, including PVD Well Services, PVD Logging, the mechanical workshop, and the tubular repair and maintenance facilities of PVD Offshore. Pertamina expressed their appreciation for PV Drilling’s advanced facilities and highly skilled workforce, recognizing the company’s expertise in the oil and gas sector.
Pertamina highlighted their interest in expanding service models in Indonesia, particularly in mechanical and maintenance services. They also emphasized the importance of PV Drilling strengthening its management, procurement processes, and timely mobilization of equipment to support the operation of drilling rigs in Indonesia. This focus is especially critical as PV Drilling prepares to simultaneously operate two jack-up rigs PV DRILLING II and PV DRILLING III in 2025.
Pertamina toured the gas logging stations of PVD Logging
The management of PVD Offshore introduced Pertamina to the unit's information
On November 11, Pertamina EP’s Management Members participated in a management meeting at PV Drilling’s headquarters. The meeting included representatives from PV Drilling’s Board of Directors, Board of Management, key departments, and business partner PT Jimmulya. During the meeting, Pertamina extended sincere appreciation to PV Drilling’s Board of Management and staffs, particularly the offshore crew of PV DRILLING II, for their dedication to maintaining secure and efficient operations. This commitment has enabled PV DRILLING II to achieve an impressive rig uptime with zero Lost-Time Incidents (LTIs) since December 2022. Pertamina highlighted the critical importance of safe operations as a cornerstone of their policies and corporate culture. They also encouraged PV Drilling, as a key partner within Pertamina's upstream ecosystem, to sustain and enhance its effective safety measures. These efforts are vital to minimizing accident risks and ensuring the well-being of rig crews.
The management meeting between Pertamina, PV Drilling, and Jimmulya on November 11 2024
Both the Board of Management and all employees at PV Drilling recognize the critical importance of safe operations and are committed to consistently implementing policies and safety solutions. In response to Pertamina EP’s feedback, PV Drilling reaffirmed its strong commitment to the efficient operation of PV DRILLING II and the upcoming deployment of PV DRILLING III. The Board of Management also expressed gratitude for Pertamina’s continued support and endorsement of PV Drilling’s rigs in recent times.
The meeting offered PV Drilling a valuable platform to reaffirm its long-term development strategy for the Indonesian market and explore potential collaborations with Pertamina on future projects. Pertamina Management recognized the dedication of PV Drilling’s team and the company’s steadfast commitment to delivering high service quality and operational efficiency for its jack-up rigs. Beyond business, the discussion underscored a shared vision of fostering strong partnerships, pushing boundaries, and collaborating to unlock Indonesia’s vast energy potential. It marked a significant milestone, setting the stage for an exciting journey as both teams work together to create meaningful impact and drive progress in the industry.
PV Drilling's PR Team.