Idemitsu Taps PV Drilling for Vietnam's Offshore Drilling Campaign
October 26, 2026
Vietnam's PV Drilling has secured a contract from Idemitsu Gas Production (Vietnam) to supply a jack-up drilling rig for an offshore exploration and appraisal campaign in the Nam Con Son Basin in 2027.
Under the agreement, signed on October 16, PV Drilling will cooperate with ENEOS Drilling to provide the Hakuryu-14 jack-up rig, managed and operated by ENEOS Drilling, for drilling operations in Blocks 05-1b and 05-1c offshore Vietnam.
The rig will drill the SV-2X well as part of an appraisal and exploration expansion project at the Sao Vang–Dai Nguyet field cluster, where Idemitsu operates the petroleum contract.
The contract covers a firm drilling period of approximately 38 - 40 days for the SV-2X main wellbore, with an optional 55 - 60 days for drill stem testing (DST) and drilling the SV-2XST sidetrack wellbore.
Operations are expected to begin between March 1 and May 31, 2027, and conclude between July and late August of the same year.
In addition to the drilling rig contract, Idemitsu signed agreements with two PV Drilling subsidiaries, PVD Offshore and PVD Logging, for supporting services during the campaign.
PVD Offshore will provide drill pipe inspection and maintenance services for wells in the South Sao Vang project, while PVD Logging will provide well logging services.
The contracts were signed in Ho Chi Minh City in the presence of representatives from Idemitsu, PV Drilling, ENEOS Drilling and Vietnam National Industry–Energy Group (Petrovietnam).
PV Drilling has worked with Idemitsu for more than a decade, supplying both rigs from its own fleet and partner-owned units arranged and contracted by the company.
“With this drilling campaign, PV Drilling will work closely with Idemitsu and EDL in preparation, rig mobilisation, operational execution and schedule management to ensure safety, efficiency and compliance with the customer's technical requirements,” said Nguyen Xuan Cuong, General Director of PV Drilling.
The SV-2X well is expected to help evaluate the remaining oil and gas potential of the Sao Vang–Dai Nguyet fields and surrounding satellite structures within Blocks 05-1b and 05-1c.
The planned campaign is expected to support further offshore oil and gas exploration and production activities in Vietnam.
