In the first six months of 2025, overcoming global and regional geopolitical difficulties and challenges, especially the high tariff policy of the US, PV Drilling ensured its owned rigs operated with high efficiency of over 99% and safely in the key Southeast Asian market. Domestically, PV Drilling operated rental rigs stably and is accelerating the reactivation progress of the PV DRILLING VIII rig according to plan.

PV Drilling was included in the Forbes’ Top 50 Listed Companies in Vietnam in 2025 (Image: Forbes Vietnam)

In addition to maintaining domestic market share, drilling-related services achieved growth in both revenue and profit compared to the previous year. PV Drilling continued to provide Mud Logging services and equipment rental in Malaysia, geothermal drilling manpower supplying services in Japan, and actively participated in bidding for CRTS services in Myanmar and Indonesia.

Other activities such as investment, HSEQ, human resource management, finance, corporate culture, digital transformation, etc., all yielded positive results. Furthermore, PV Drilling was also listed in the Top 50 Listed Companies in Vietnam in 2025 by Forbes Vietnam. This result demonstrates PV Drilling's persistent efforts in effective operations and growth, integrating ESG and innovating governance to meet the stringent requirements of clients as well as international standards.

To implement solutions that promote business activities and exceed the budget, PV Drilling will continue to enhance governance capacity; increase the application of technology in rig operation management and safety work; intensify job seeking, increase the number of rental rigs, and expand other service contracts; deploy investment projects as planned; ensure the effectiveness of financial solutions and promote the application of science and technology and digital transformation.

PV Drilling expects to begin operating the PV DRILLING VIII rig in Q3/2025, which will contribute to increasing revenue and profit for the remaining six months of 2025

Jack-up rigs with contracts throughout the year (including the PV DRILLING VIII rig) - are the main contributor to revenue and profit, along with the operation of rental rigs. For the subsidiaries, the Corporation expects them to continue effectively executing signed contracts and actively participate in new client tenders.

Based on the forecast for crude oil prices in the last six months of the year, the workload and rental rates for owned and rental rigs, and the development of the well services market share, PV Drilling expects to meet/exceed the set business targets.

PV Drilling