PV Drilling Secures Jack-Up Rig Deal from Zarubezhneft off Vietnam

(Credit: PV Drilling)

Vietnam’s PV Drilling has signed a contract with Russia's Zarubezhneft EP Vietnam to provide jack-up drilling unit services for its 2026 development drilling campaign in Block 12/11 offshore Vietnam.

Under the agreement, a jack-up rig will be mobilized for drilling operations at the Thien Nga-Hai Au field, with the campaign expected to last around 160 days and scheduled to begin in October 2026.

The contract signing ceremony was attended by representatives of both companies and follows previous drilling campaigns carried out by PV Drilling for Zarubezhneft EP Vietnam.

Speaking at the ceremony, Nguyen Xuan Cuong, President and CEO of PV Drilling, reaffirmed the commitment to delivering the drilling services at a reasonable price, ensuring the mutual benefit for both Parties.

Zarubezhneft EP Vietnam expressed confidence in PV Drilling’s capabilities and professionalism demonstrated through previous drilling campaigns and noted that PV Drilling had successfully deployed two drilling rigs for the company in 2025 with high working efficiency and operational safety.

PV Drilling said the agreement reinforces the long-term partnership between the companies and comes as the drilling market continues to recover, with the company expanding activity across Southeast Asia, including Malaysia, Brunei and Indonesia.