PV Drilling set for fleet expansion

epa01073302 A Vietnamese soccer fans look on during their quarterfinal soccer match of the AFC Asian Cup 2007 between Iraq vs Vietnam at Rajamangala Stadium in Bangkok, Thailand, 21 July 2007. EPA/NARONG SANGNAK

EPA/NARONG SANGNAK

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Tan Hwee Hwee

 09 September 2009 06:16 GMT

PetroVietnam Drilling & Well Services Corporation (PV Drilling) plans to invest $1.7 billion until 2025 to build and operate an 11-strong fleet of rigs, including five land rigs and six offshore rigs.

The expansion of the rig fleet will support exploration drilling in Vietnam. Some 900 exploration wells will be drilled over the next 15 years, with Chevron accounting for half of that number, according to Vietnam Oil and Gas Group’s vice president, Do Van Hau.



Around 20 to 30 exploration wells will be drilled every year, Hau said.



Fifteen rigs are now drilling offshore Vietnam, including 11 mobile drilling units and four stationary rigs working on Vietsovpetro’s offshore structures, according to Hau.



PV Drilling now owns and operates three…

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