At the September 24 conference, Mr. Mai The Toan, Chairman of the Board of Directors of PetroVietnam Drilling and Well Service Corporation (PV Drilling), said the event provided an opportunity to review and update the company's development strategy based on its performance and changes after nearly a year of implementation.
The expected opportunities arising from the 2026 Petroleum Law were also highlighted as a key factor shaping the company's next phase of development. Mr. Mai The Toan said the new regulatory framework was expected to create new opportunities for the oil and gas and drilling-services sectors, requiring PV Drilling to proactively prepare its resources, capabilities and investment plans to capitalize on emerging opportunities.
The conference also reviewed the roles and responsibilities of PV Drilling’s subsidiaries in implementing the 2026-2030 business plan to support more efficient and sustainable growth.
Mr. Mai The Toan said the comments, perspectives, analyses, and discussions at the conference would provide important input for the company to further refine its development strategy through 2030 and its longer-term vision to 2050.
PV Drilling plans to maintain and strengthen its core capabilities in drilling and well-engineering services while continuing to upgrade technology, machinery, and equipment to deliver greater value to customers.
The company also plans to expand its drilling and well-engineering services, develop more specialized services for drilling operations, and strengthen its presence in international markets. Improving productivity and competitiveness will remain another priority.
For the 2026-2030 period, PV Drilling and its subsidiaries will strive to achieve annual double-digit growth, according to the company's strategic orientation.
At the same time, the company plans to pursue an energy-transition strategy by exploring opportunities in renewable energy and other industrial sectors, broadening its business beyond its traditional oil and gas activities.
The conference heard presentations from executives of subsidiaries including PVD Offshore, PVD Tech, PVD Logging, PVD Well Services, and PVD Baker Hughes, alongside discussions and candid assessments from members of the board of directors and the executive management team.
In his concluding remarks, PV Drilling President and CEO Nguyen Xuan Cuong called on the corporation and its subsidiaries to strengthen their competitiveness and accelerate investment to create new growth drivers.
Against the backdrop of intense competition in the international drilling market and pressure on profit margins, Mr. Nguyen Xuan Cuong said PV Drilling needed to maximize the efficiency of its existing investments while exploring opportunities to expand overseas.
He also called on the company’s subsidiaries to expand their services into international markets professionally and competitively, while tailoring their approach to the conditions of each market.
Human-resource development was another priority highlighted by Mr. Nguyen Xuan Cuong. He called for more proactive training, recruitment, and efforts to attract specialists and management personnel from both within and outside the corporation.
On that basis, PV Drilling and its subsidiaries are expected to develop comprehensive investment, human resources, and market expansion plans, targeting double-digit growth in 2026-2030 and laying a stronger foundation for the company’s long-term development through 2050.
PV Drilling held a training program on corporate governance practices aligned with OECD standards on September 25-26 in Vung Tau Ward.
The program was organized in connection with Resolution 79/TW and Resolution 29/NQ-CP dated February 24, 2026, of the Ministry of Finance on improving the governance model of State-owned enterprises and applying OECD principles, as well as Resolution 5432 of PetroVietnam.
The training brought together members of PV Drilling's board of directors and executive management, the head of the Supervisory Board, heads of departments and the corporate office, directors of subsidiaries, and managers involved in corporate governance, internal control, and information technology.
The program covered three main areas: OECD-aligned corporate governance; cybersecurity risks and AI governance; and risk management and internal control systems under the COSO framework, including the role of boards of directors in overseeing these areas.
PV Drilling said the program was intended to provide senior executives and managers with a broad understanding of OECD corporate governance principles and their practical implications.
The company said stronger governance would help enhance transparency, safeguard shareholders' rights and strengthen the accountability of boards of directors, while supporting investor and market confidence.
It also viewed the adoption of more robust governance practices as a means of supporting long-term value creation and sustainable growth.
