Falcon and PetroVietnam eye Singapore JV

Singapore joint venture: Falcon and PVDWSC are in talks to set up a joint venture based out of Singapore

REUTERS/SCANPIX

Josh Lewis

 28 January 2013 04:44 GMT

Singaporean player Falcon Energy has signed a preliminary agreement with PetroVietnam subsidiary, PetroVietnam Drilling & Well Services Corporation (PVDWSC), to set up a joint venture in Singapore.

Falcon said the joint venture could see the pair provide drilling services and associated services to clients.

It added the companies would continue to use their “good faith efforts” to discuss and conclude a definitive joint venture agreement.

Falcon said any potential joint venture was not expected to have a material impact on its net tangible assets per share and earnings per share for the current financial year which ends on 31 March.

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