PV Drilling signs jack-up rig contract with Zarubezhneft EP Vietnam
PV Drilling, a subsidiary of state-owned Petrovietnam, has signed a contract to provide a jack-up drilling rig for Zarubezhneft EP Vietnam's development drilling campaign at the Thien Nga-Hai Au field in Block 12/11 offshore Vietnam.
The signing ceremony took place in Ho Chi Minh City with senior executives from Zarubezhneft EP Vietnam, PV Drilling and partner representatives in attendance.
The contract is expected to run for around 160 days, with drilling operations scheduled to begin in October 2026. The project is considered important for maintaining the development schedule of Zarubezhneft EP Vietnam’s offshore operations in Vietnam, according to a Petrovietnam release on Monday.
Nguyen Dinh Duong, deputy CEO of PV Drilling (front, right), and Alexander Mikhaylov, general director of Zarubezhneft EP Vietnam, May 5, 2026. Photo courtesy of Petrovietnam.
Speaking at the signing ceremony, PV Drilling CEO Nguyen Xuan Cuong said the company was committed to providing competitive pricing while balancing the interests of both parties.
Representatives of Zarubezhneft EP Vietnam said they remained confident in PV Drilling’s technical capabilities, professionalism and service quality, citing previous drilling campaigns conducted together.
The company noted that drilling campaigns supported by PV Drilling in 2025 achieved strong operational performance while maintaining safety standards.
The new contract further demonstrates PV Drilling’s technical expertise and reputation in providing drilling rigs and oilfield well services in Vietnam’s energy sector, said the release.
The agreement also strengthens long-term cooperation between the two sides and could create additional opportunities for future projects.
The deal comes as the regional drilling market continues to recover.
In addition to supplying its owned rigs in Malaysia, Brunei and Indonesia, PV Drilling remains one of the main providers of drilling capacity for oil and gas operators in Vietnam, serving projects that require high safety and operational standards.
Founded 25 years ago, PV Drilling has grown into one of Petrovietnam’s leading subsidiaries and a major drilling and well services contractor in Vietnam and the broader regional market.
The company said it remains focused on expanding drilling services into deeper offshore waters and overseas markets to support oil and gas exploration and production activities.
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