PV Drilling: Pioneer in Vietnam's oil and gas drilling industry

PV Drilling: Pioneer in Vietnam's oil and gas drilling industry - 

In context of facing many difficulties and challenges of of oil and gas drilling industry, PetroVietnam Drilling & Well Services Corporation (PV Drilling) continuing to receive the prize "The best Asian Drilling Contractor 2015" from World Finance at the London stock market, the Kingdom Britain recently has continued to assert the brand name value of PV Drilling. This achievement is due to processes of establishment and development in 14 recent years (November 26, 2001 - November 26, 2015) of all staffs of PV Drilling across generations, across the stages.

Director General of PV Drilling, Mr. Pham Tien Dung was awarded "The best Asian Drilling Contractor 2015" from World Finance at the London stock market, the UK (London Stock Exchange).

From correct orientation and policies of the leadership of PV Drilling and dedication of all officers and employees of corporation, PV Drilling has had a phenomenal growth rate since the beginning of the establishment; adjacent management team, typically as Director General Mr. Pham Tien Dung and contemporary leadership has fanned the flames of passion for creative work, bringing forth the go-ahead spirit ... It is them who put first pink bricks and many other individual and collective of workers are important factors that contribute to PV Drilling 's current appearance and strength.

After 14 years of formation and development, PV Drilling has a solid great appearance, with subsidiaries operating in the drilling service and drilling well technical, mud logging, exploitation of mud logging and dragging equipment in wells, oil and gas reservoir testing, providing geological experts, deep-water oil drilling service in the sea region of Vietnam and the region ...

Beside PVD Offshore, it must mention Drilling Division PVD (drilling Executive Enterprise), PVD Well Services (CPVD Well Services One Member Company Limited), PVD Logging (Oil Drilling Well Geophysical Company Limited) PVD Deepwater (PVD Deepwater oil drilling Company Limited ), PVD Invest (Investment Drilling Service Enterprise) which are the companies with 100% capital of Corporation or PVD Tech Joint stock company (PVD Drilling Trading and Technical Services Joint Stock Company), PVD Training (PVD Technical Training JSC ) operate in the core area in drilling industry and well technical services. Also, during the development, PV Drilling was conducted venture - association with many reputable foreign oil technical service companies, an important contribution to the overall success of the Corporation such as BJ - PVDrilling, PVD - Tubulars Management, PVD - Baker Hughes, PVD - Expro, Vietubes, PVD - OSI, PVD Overseas.

Tell the story 14 years ago and today to recognize that every initiative is difficult, for a enterprise, 14 years of growth and development is not too long but with PV Drilling - enterprise operating in the petroleum industry, providing oil drilling technical services with competitors being foreign enterprises of thickness of experience and large-scale, the Corporation has a process of striving tirelessly. But it is enough time for PV Drilling to grow up and develop strongly as a young man in the most strong period, strongly affirm the brand name, becoming the pioneer in Vietnam's oil drilling industry with service quality and ability in providing under international standards.

It is proved specifically that over the years, growth of revenue, profit of Corporation have always been recorded and maintained at a high level comparing to other units in the field. If in 2002, the turnover of Corporation was only about 351 billion VND, after more than 12 years later (in 2014), this figure has risen to the record of 20,884 billion VND, profit after tax reached 2,419 billion VND, budget submission for the State of 3,496 billion VND. In comparison with the newly establishment period (in 2002), revenues increased by nearly 60 times, profit after tax increased by 151 times and state budget submission increased 97 times. Scale of Corporation activities also grew strongly, total assets reached more than 26 trillion VND with 15 subordinated member companies and 6 owned rigs; as well as management and operation of many outsourced rigs to supply promptly to the market and increase the efficiency of production and business activities. In addition, PV Drilling have had more than 2,000 employees who are highly professional, skilled, experienced and always dedicated, devoted their best for a PV Drilling strong growth and sustainability.

The decrease and low level of oil price during the last months of 2014 continuing into 2015, and until now there were no clear signs of recovery having great influence to the production - business of the enterprises in the petroleum industry, especially those companies operating in the beginning stages, the exploration and exploitation blocks (E & P), including PV Drilling.

Rig of PV Drilling

According to Mr. Pham Tien Dung, Director General of PV Drilling, the solution preferred to implement by PV Drilling in this phase may be mentioned as optimized production processes, business -production cost savings, continuing human resources investment and development, enhancing training through on-site training form (On job training), promoting scientific and technological projects and promoting technical innovations, improvement of risk management systems, internal capacities, being ready for new opportunities because opportunities always accompany with challenges. In particular, ERP Oracle Management System, including risk management systems built by PV Drilling in recent years has gradually completed Phase 2 and become the pioneer of PetroVietnam in successful construction of this system.

With many flexible and drastic solutions in the future, all PV Drilling leadership, officers and staffs are committed to promote the most powerful intellect and bravery, promote corporate governance, boosting business production so that PV Drilling continues to develop in its planned route, maintain achievements over 14 years of development, continue to maintain a core role in Vietnam Oil and Gas Group.

On November 26, 2015, PV Drilling officially turns 15 with outstanding achievements during journey of its formation and development. Despite operating under intense competitive pressure from domestic and abroad competitors, PV Drilling has made dramatic changes in scale as well as its position in the oil and gas drilling industry and maintaining the brand "Pioneer in Vietnam's oil and gas drilling industry", confidently asserted its position by the domestic and aboard prestigious awards such as the First Class Labour Medal (2011); Top 50 of the best listed companies in Vietnam polled by Vietnam Forbes magazine (2013, 2014, 2015), The Most Admired ASEAN Enterprise (2013), The best Asian oil and gas drilling contractor (2012 2013, 2015) ...

14 years is a journey of obstacles and challenges but also many glorious achievements and it is sure that the ahead road of PV Drilling has promise for continuing to get new successes.

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