PV Drilling has acquired an additional jack-up drilling rig to expand capacity and support growing drilling demand in Vietnam and the wider regional market.
PetroVietnam Drilling and Well Service Corporation (PV Drilling) signed an agreement to acquire the rig, which is tentatively named PV DRILLING X. The deal marks a further step in the company’s investment and sustainable development strategy.
Under the plan, the rig will be transported to Vietnam in October 2026 for recommissioning, technical certification and system upgrades. It is scheduled to enter commercial service in the second quarter of 2027.
PV Drilling said the investment comes despite continued volatility in regional and global offshore drilling markets, driven by geopolitical and macroeconomic uncertainties. The company expects demand for rigs in Vietnam and across the region to remain strong, supported by faster implementation of oil and gas exploration, development and production projects.
According to PV Drilling, the acquisition is expected to strengthen its competitiveness, enhance its brand reputation and reinforce the position of Vietnamese drilling contractors in the regional market.
The company’s drilling fleet has continued to expand across 2024, 2025 and 2026. PV Drilling said the strategy reflects its focus on improving service capabilities, meeting customer demand and pursuing stable, efficient and sustainable growth.
