PV Drilling supplies rig for PVEP Red River

PV Drilling supplies rig for PVEP Red River - 

On July 07, 2015, in Hanoi, PetroVietnam Drilling & Well Services Corporation (PV Drilling) has signed a contract to supply lifting rig PV Drilling II for Red River Oil Company (PVEP Red River).

Rigs of PV Drilling

According to the signed contract, from mid-July/2015, PV DRILLING II will serve the drilling campaign in PVEP Lot 103-107 Red River Basin Red River sediments in the Gulf of Tonkin. It is expected later, PV DRILLING II will continue drilling in Block 102/10 and 106/10 PVEP.

The oil project Lot 103 -107 torch Corporation Oil & Gas Exploration and Production (PVEP) assigned to Red River PVEP operating from May 9/2014.

Lot 103-107 PSC contract by Petronas Carigali PVEP and Vietnam Limited (PCVL) are involved contractors with turns ratio was 55% and 45%, with effect from July16, 2007 for a valid period of 30 years. Through 06 years of performing the contract with the exploration activities authorized operator for PVEP Bach Dang, after the PVEP POC project was to 400 detect gas & condensate, including: Hong Long, Bach Long, Hac Long, Dia Long.

According to the latest report by IHS, the Southeast Asian market continues to maintain the activities of exploration and mining, expectation of many new drilling programs will be implemented in 2016 or later.

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