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PV Drilling signs $6-million contract for jack-up rig

Sep 1st at 13:58
01-09-2017 13:58:20+07:00

PV Drilling signs $6-million contract for jack-up rig

On August 31, PetroVietnam Drilling and Well Services Corporation (HOSE: PVD) announced entering into a contract to provide jack-up rig “PV Drilling I” for Singapore-based KrisEnergy.

The rig will be delivered toBlock G10/48 in the Gulf of Thailand for the duration required to complete the six firm wells and two optional wells.

KrisEnergy, a wholly-owned subsidiary of KrisEnergy Limited, has 89 per cent working interest and operatorship of G10/48, while Palang Sophon Offshore holds the remaining 11 per cent.
The contract is the second drilling deal that PV Drilling has secured this year for services with foreign partners abroad.

Previously, PV Drilling successfully completed its contracted services to Total E&P Myanmar’s 164-day drilling campaign in blocks M5 and M6 in the Bay of Bengal in April 2017.

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