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Vietnam's PV Drilling Secures New Super B-Class Rig, Signs EPCIC Deal for Kinh Ngu Vang
PV Drilling received ownership of a newly built self‑elevating drilling rig, tentatively named PV DRILLING X, at the Mizuho Bank office in Ho Chi Minh City on 28 July 2026. The Keppel Fels Mod V “Super B Class” rig, ABS‑class, can drill to a depth of 35 000 ft (about 10 668 m) and operate in water up to 350 ft (106 m).
Following the handover, PV Drilling will restart phase 1 operations in Namibia within 45 days to satisfy international classification requirements, then transport the rig to the PTSC port in Ho Chi Minh City by late October 2026. Phase 2 will see full commissioning for commercial service in the second quarter of 2027. The company reported first‑quarter 2026 revenue of VND 3.401 trillion (up 126 % YoY) and net profit after tax of VND 300 billion (up 110 %). PV Drilling also earned API Spec Q2‑2nd Edition certification for managing and operating offshore rigs.
In parallel, PVEP‑HCM and the Vietnam‑Russia joint venture Vietsovpetro signed an EPCIC contract on 28 July 2026 to develop the Kinh Ngu Vang offshore field (blocks 01/10 & 02/10). The agreement covers the provision of a wellhead platform, subsea pipelines, and power and fiber‑optic cabling linking to the Thăng Long‑Đông Đô cluster.
Entities
Keppel Fels Mod V “Super B-Class” rig · Kinh Ngu Vang offshore field · PV Drilling · Petrovietnam · Vietsovpetro
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 2 SOURCES] PV Drilling received ownership of a new self‑elevating drilling rig named PV DRILLING X on 28 July 2026 in Ho Chi Minh City. cafef.vn · nangluongvietnam.vn
- [● 2 SOURCES] The rig will be transported from Namibia to the PTSC port in Ho Chi Minh City by late October 2026, with full commissioning planned for Q2 2027. cafef.vn · nangluongvietnam.vn
- [○ 1 SOURCE] The EPCIC contract includes a wellhead platform, subsea pipelines, and power and fiber‑optic cabling linking to the Thăng Long‑Đông Đô cluster.
- [○ 1 SOURCE] PVEP‑HCM and Vietsovpetro signed an EPCIC contract on 28 July 2026 to develop the Kinh Ngu Vang offshore field (blocks 01/10 & 02/10).
- [● 2 SOURCES] PV Drilling will restart phase 1 operations in Namibia within 45 days after handover to meet international classification requirements. cafef.vn · nangluongvietnam.vn
- [● 2 SOURCES] The rig is a Keppel Fels Mod V “Super B‑Class” design, ABS‑class, capable of drilling to 35 000 ft (≈10 668 m) and operating in water up to 350 ft (106 m). cafef.vn · nangluongvietnam.vn
- [○ 1 SOURCE] PV Drilling obtained API Spec Q2 ‑ 2nd Edition certification for managing and operating offshore rigs. nangluongvietnam.vn
- [○ 1 SOURCE] PV Drilling reported Q1 2026 revenue of VND 3.401 trillion, up 126 % YoY, and net profit after tax of VND 300 billion, up 110 %. cafef.vn