Offshore drilling activity expands with new contracts in Vietnam and Singapore

Idemitsu Gas Production (Vietnam) has contracted PV Drilling to supply a jack-up rig for an offshore exploration and appraisal campaign in the Nam Con Son Basin. Scheduled for 2027, the project involves drilling the SV-2X well at the Sao Vang–Dai Nguyet field cluster. PV Drilling will collaborate with ENEOS Drilling to provide the Hakuryu-14 rig, while its subsidiaries, PVD Offshore and PVD Logging, will provide maintenance and well logging services.

In Singapore, Keppel’s subsidiary RigCo and Seatrium have entered a deal worth over S$500 million to complete the construction of four offshore rigs. The fleet includes a seventh-generation drillship, a harsh-environment jack-up rig, and two mid-water semisubmersibles. The drillship and jack-up rig are slated for delivery in 2027 and 2028, respectively. The companies noted that improving market conditions, driven by an aging global fleet and energy security needs, are supporting increased demand for deepwater and harsh-environment rigs.