PV Drilling maintains a stable growth

PV Drilling maintains a stable growth - 

In 2014, operation of the drilling rigs of the PetroVietnam Exploration Production Corporation (PV Drilling) continued  stably with a productivity of over 99%.

The drilling rigs of the PV Drilling are stable operation with a high productivity.

According to Mr. Pham Tien Dung, PV Drilling General Director, in 2014 the Corporation earned a turnover of over VND19,500 billion and a post-tax profit of VND 2,400 billion, accounting the growth rates of 32% and 27% in comparison with the last year.

The drilling rigs owned by the Corporation continued stable operation with a high productivity as over 99%. The turnover grew due to the amount of the rent drilling rigs continued to increase in 2014.

Besides, the borehole technical services (dropping support pipes, borehole geophysical measurements…) also strongly grew; and the machinery and equipment were used at full capacity. These services increased proportion contributing to the total profit of PV Drilling from 16% in 2013 up to 19% in 2014.

PV Drilling has been focusing on expanding drilling market share through reasonable investment strategies, continuous development of high-tech services with a good marginal profit for ensuring a sustainable growth in the coming years.

PV Drilling General Director considered, 2015 will be a year of great promise for strong growth of the Corporation thank to putting PV DRILLING VI in operation since March 2015.

In 2015 is also a year for PV Drilling to apply the sciences and technologies, develop many borehole technical projects and improve the efficiency of business-productive activities.

‘Besides, PV Drilling focuses to reduce the costs , maintain stable profit through Oracle ERP administrative system, Maximo maintenance and inventory management systems for business professional operation and stock value maximization’, PV Drilling CEO confirmed.

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