PV Drilling has signed an agreement with Idemitsu Gas Production (Vietnam) to provide the HAKURYU-14 rig for a 2027 exploration and appraisal programme in Vietnam’s Nam Con Son Basin. ENEOS Drilling will manage and operate the jack-up under the arrangement with PV Drilling.
Signed in Ho Chi Minh City on 16 October 2026, the rig contract concerns SV-2X at the Sao Vang–Dai Nguyet field cluster. Idemitsu is the operator under the petroleum contract for blocks 05-1b and 05-1c.
The main SV-2X wellbore accounts for approximately 38–40 days of firm drilling. A separate optional scope of around 55–60 days covers drill stem testing (DST) and the SV-2XST sidetrack. The expected start window is 1 March–31 May 2027. The anticipated completion window runs from July to late August 2027.
Idemitsu also contracted two PV Drilling subsidiaries for services associated with the campaign. PVD Offshore will inspect and maintain drill pipe for South Sao Vang wells, while PVD Logging will carry out well logging.
PV Drilling’s general director, Nguyen Xuan Cuong, said the contractor would coordinate campaign preparations, rig mobilisation, operations and scheduling with Idemitsu and ENEOS Drilling. The company has supplied Idemitsu with its own rigs and units sourced from partners over a relationship spanning more than ten years.
SV-2X is intended to assess remaining hydrocarbon potential at Sao Vang–Dai Nguyet and satellite structures nearby in those blocks.
