Wednesday, October 18 2017

VietNamNews

PV Drilling, Rosneft sign contracts worth $42 million

Update: June, 27/2017 - 15:00
PV Drilling will expand its operation to further deepwater areas and the overseas market. — Photo pvdrilling.com.vn
Viet Nam News

HÀ NỘI — PetroVietnam Drilling and Well Services Corporation (PV Drilling) and Rosneft Vietnam B.V. committed to co-operation worth US$42 million for provision of jack-up and related services in support of 2018 exploration and development projects at block 05-3/11 and block 06.1.

The co-operation was announced at the signing ceremony of six contracts, held in HCM City on Friday.

Accordingly, PV Drilling’s drilling rig VI will serve Rosneft’s drilling campaign at block 05.3/11 within three months.

This is the first signing of contracts between PV Drilling and Rosneft, which is one of the world’s largest listed oil companies.

Rosneft joined the Vietnamese market in 2013. It is a co-owner of oil block 06.1 and 05.3/11 in Nam Côn Sơn in Việt Nam.

As planned, Rosneft will drill three oil wells in 2018, of which two wells will be at block 06.1 and one well at block 05.3/11.

Speaking at the signing ceremony, Deputy General Director of PetroVietnam Nguyễn Quỳnh Lâm appreciated PV Drilling’s efforts in the past as well as the importance of the co-operation relationship with Rosneft Vietnam.

He wanted PV Drilling to ensure its best efforts to complete the work for Rosneft in terms of safety and high productivity.

PV Drilling is a provider of drilling rigs and drilling-related services and also supplies manpower for onshore and offshore drilling operations. Over the last decade, PV Drilling has developed significantly, becoming one of the leading subsidiaries of Vietnam’s Oil & Gas Group and a prestigious drilling contractor in the local and regional market.

PV Drilling plans to expand its operation to further deepwater areas and the overseas market to contribute more to exploration and production of oil and gas resources for Việt Nam and the world. — VNS

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