Amidst a positive growth trajectory in Southeast Asia’s oil and gas market, PV Drilling has reportedly surpassed its established targets for the first six months this year, reaffirming its regional leadership. Throughout this period, the corporation’s offshore rig fleet maintained ironclad safety and operating efficiency exceeding 99 percent.
Notably, the newly invested PV DRILLING IX rig officially kicked off in April 2026. The firm’s rigs continue to operate across Vietnam, Malaysia, Indonesia, and Brunei, benefiting from high leasing demand and stable rental rates around US$90,000 per day. Furthermore, technical services and manpower supply segments have maintained positive momentum, contributing substantially to profit.
Consequently, PV Drilling’s consolidated revenue and profit are projected to exceed ambitious targets by approximately 30 percent, reflecting robust growth compared to last year. This operational excellence ensures the corporation’s continued dominance while it navigates the evolving demands of the regional energy sector.
To achieve these stellar results, PV Drilling capitalized on lucrative market opportunities, aggressively expanding its scale by bringing additional rigs into operation. In addition, the corporation optimized its resources, bolstered cost management, and seamlessly applied digital transformation throughout its operational frameworks.
In the end, these maneuvers drastically enhanced efficiency and fortified the firm’s competitive capacity internationally. Concurrently, PV Drilling maintains an impeccably high safety record, strictly adhering to rigorous international standards.
Seizing this occasion, the corporation summarized the PV Drilling Science and Technology Council’s operations for the 2024-2026 phase. The report highlighted positive results regarding governance and the pragmatic deployment of science and technology (S&T). This governance system continues to be consolidated through a dedicated Steering Committee, intrinsically paired with focal points to smoothly facilitate coordination across the corporation.
Additionally, PV Drilling’s proactively perfecting its mechanisms and beefing up resources for S&T activities in accordance with new regulations. Positive financial shifts, most notably raising the S&T Development Fund allocation to a maximum 20 percent of taxable profit, coupled with allowing direct accounting of research expenditures into production costs, have undeniably created a massive driving force. This inevitably propels profound research and seamless technology transfer, ultimately drastically elevating corporate competitiveness.
For President and CEO of PV Drilling Nguyen Xuan Cuong, acknowledging these stellar efforts is an absolute priority. During the preliminary conference, he recognized and highly commended the relentless dedication of the entire system, fundamentally helping PV Drilling clinch such impressive business results in the first six months of the year.
“The predominant prospect for the drilling service market in both the medium and long term undeniably remains exceptionally positive, primarily driven by surging demands for oil and gas exploration and exploitation while the global supply of drilling rigs continues to remain inherently constrained,” he astutely noted.
He emphasized that in Vietnam, major key projects like Block B, “Dai Hung” phase 4, “Hai Su Vang”, and “Ca Voi Xanh” are heavily anticipated to systematically generate massive growth momentum in the coming years.
He urgently requested all affiliated units to proactively prepare their human resources, specialized equipment, and technical capacities to flawlessly seize emerging market opportunities while continuing to expand operations within the broader international market.
Although the last six months of 2026 are forecasted to consistently harbor a stack of underlying difficulties and agonizing challenges due to the unpredictable fluctuations inherent in the global geopolitical landscape and overarching world energy markets, PV Drilling remains steadfastly committed to its ultimate goal of ensuring safe, highly efficient, and sustainable development.
Moving forward, the corporation will strategically focus on maintaining operational safety, guaranteeing superior service quality, and actively stepping up the search for lucrative new job contracts. Concurrently, they won’t hesitate to promote robust corporate governance and thorough risk management, drastically elevating their competitive capacity to strive toward successfully fulfilling all predetermined production and business plan targets for the 2026 fiscal year.
