Organized by Vietnam Report in collaboration with VietnamNet, the VIX50 ranking recognizes leading public companies for strong financial performance, corporate governance, and market reputation.
The annual ranking assesses companies based on two core criteria: financial strength over the previous three years and media reputation, measured using Vietnam Report's Media Coding methodology.
Financial performance is assessed based on key indicators, including market capitalization, revenue, earnings, compound annual growth rate (CAGR), and return on equity (ROE). PV Drilling stood out for maintaining sustained revenue and profit growth between 2023 and 2025, highlighting its strong recovery following a difficult period for the oil and gas drilling industry. The company currently has total assets of more than US$1 billion.
PV Drilling has also continued to expand its asset base to underpin long-term growth. Between 2024 and 2026, the company added three modern jack-up rigs and plans to invest in another one or two rigs during 2026-2030 to meet rising demand across the regional market.
Beyond financial performance, PV Drilling has strengthened its standing through transparent and modern corporate governance, while meeting the VIX50's media-reputation criteria.
The company's reputation has been built on transparent information disclosure, consistent operational performance, and contributions to local communities. Alongside its core business, PV Drilling has supported a range of social welfare initiatives, including funding STEM classrooms, Great Unity Houses, and education and community-development programs in localities where it operates.
Such initiatives have helped reinforce the company's image as a sustainable business that balances commercial objectives with social responsibility, while strengthening confidence among investors, partners and communities.
International expansion has been another defining element of PV Drilling's growth strategy. The company began providing onshore drilling services in Algeria in 2007 before pioneering the deployment of offshore rigs in Southeast Asian markets in 2016. It has since steadily expanded its regional footprint.
PV Drilling now holds significant market shares in Brunei, Malaysia, and Indonesia, ranking behind only domestic drilling contractors in those markets.
Its ability to continuously strengthen competitiveness and maintain stable operations in international markets with stringent safety, technical, and corporate-governance requirements demonstrates the company's operational capabilities, international service standards, and ability to meet the demanding expectations of global clients.
Being included in the VIX50 ranking for the first time in 2026 recognizes PV Drilling's achievements in financial strength, asset value, transparent governance, sustainable development, and media reputation. It also underscores the increasingly solid position of the Vietnamese drilling contractor in both domestic and regional markets.
After 25 years of development, PV Drilling now operates eight modern offshore drilling rigs, supported by an integrated infrastructure network and nearly 2,000 highly skilled employees. Including its joint ventures and associates, the company's workforce exceeds 2,800, excluding local employees working aboard its rigs in Brunei, Malaysia, and Indonesia.
