PV Drilling's Drilling 1 rig finished its campaign for Total E&P Myanmar (Photo: PV Drilling)
Hanoi (VNA) – PetroVietnam Drilling and Well Services Corporation (PVDrilling) has signed multiple new contracts in the second quarter of this year.
After finishing its drilling campaign for Total E&P Myanmar, PV Drillingwill supply its Drilling 1 rig for offshore drilling for Cuu Long JointOperating Company, which operates in petroleum exploration and production.
Meanwhile, Drilling II and Drilling III rigs have reentered the market by servicingMurphy Oil Corporation and Con Son, respectively.
Drilling VI rig has served Hoang Long Hoan Vu Joint Operating Company sincemid-March and Drilling 11 rig is drilling wells for its Algerian customerSonatract.
PV Drilling said that prices of services have increasing thanks to stellar performance.
In a bid to realise its business target in 2017, the company is striving to getadditional contracts for its rigs and other drilling technical services. Itwill also look to recover overdue debts.
Cutting oil rigs’ operation costs and negotiating with suppliers to reduceinput costs are part of the company’s efforts to improve financial management.
PV Drilling’s business activities were dramatically affected by the idle oilrig market in Southeast Asia in the first quarter.
Oilrig rental prices dropped by 60 percent and other related services fell 50percent, causing the company to lose, for the first time in its operationhistory, more than 200 billion VND (8.8 million USD).-VNA
The PetroVietnam Exploration Production Corporation is actively developing a number of gas projects with the aim of extracting the first flows of gas at Su Tu Trang field and at Dai Hung field.
The PetroVietnam Drilling and Well Services Corporation (PV Drilling) plans to expand its coverage in rig and drilling related services provision, to Myanmar, Malaysia and the Middle East.
An inauguration and handover ceremony was held in the southern province of Ba Ria-Vung Tau on August 12 to launch the Tam Dao 05 offshore oil rig, the largest ever locally manufactured jack-up rig.
The Vietnam National Oil and Gas Group (PVN) produced about 6.45 million tonnes of crude oil in the first quarter of this year, exceeding its three-month plan by 5 percent.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
PV Drilling's Drilling 1 rig finished its campaign for Total E&P Myanmar (Photo: PV Drilling) 
