PV Drilling has signed a contract to supply a second jack-up rig for PVEP-Cuu Long’s 2026 drilling campaign at Block 15-1 offshore Vietnam.
The agreement was signed on 22 April 2026 in Ho Chi Minh City, with senior representatives from PVEP, PVEP-Cuu Long, PV Drilling, and partner Borr Drilling in attendance.
The contracted program covers two wells with an estimated total duration of about 104 days. Operations are scheduled to begin in July 2026 at Block 15-1, within the Su Tu field cluster.
For the campaign, PV Drilling has secured the jack-up rig THOR from Borr Drilling. The rig will support integrated drilling services designed to meet the technical scope and schedule required by PVEP-Cuu Long.
PV Drilling said the work would be carried out with a focus on safety, efficiency, and cost optimization, with both wells targeted for completion on schedule. The company also noted that THOR has previous operating experience in Vietnam, including drilling work for PVEP and other clients.
PVEP-Cuu Long recognized PV Drilling’s operational capability and drilling experience, expressing confidence that coordination among the parties and the rig’s management team would support efficient execution at Block 15-1.
In 2025, PV Drilling operated its own fleet while arranging five additional chartered rigs to serve demand from domestic oil and gas operators. According to the company, those chartered units maintained safe and high-performance operations and supported growth in drilling revenue and profit.
The latest contract further strengthens PV Drilling’s role in supplying rigs for Vietnam’s domestic upstream market and supporting national energy security.
