PANO – Drilling and Oil-Gas Drilling Services Joint-Stock Corporation (PV Drilling) of the Vietnam National Oil and Gas Group has recently signed an agreement on the adjustment and renewal of the contract to lease a self-lifting oil drilling rig named PV DRILLING I to Cuu Long JOC Company.

Photo: pvdrilling.com

Under the new contract, the oil drilling rig will continue to serve Cuu Long JOC for an additional 13 months after the current contract expires at the end of June 2013.

Earlier, PV Drilling signed a contract with Falcon Energy Group Limited (FEG) in Singapore to set up a joint venture named PV Drilling Overseas to build a modern self-lifting oil drilling rig. The project was expected to be wrapped up by the end of 2013.

According to the Corporation’s leaders, the signing of the contract with the Singaporean partner was part of its strategy to expand its business overseas in 2013.

Translated by Thu Nguyen