Is PV Drilling's continuous investment in expanding its rig fleet during the period of energy market recovery a strategic step to help the business enhance its position in the region, or will heavy investment pressure pose many challenges in the coming years?
On July 28, 2026, according to information published by PetroTimes, PV Drilling Joint Stock Corporation, a member unit of Petrovietnam, officially received ownership of the newly invested jack-up drilling rig at Mizuho Bank office, Ho Chi Minh City Branch. The event marked the completion of the ownership transfer process after the rig purchase deal was implemented previously.
This is the next step in PV Drilling's strategy to expand rig fleet capacity. Previously, on June 2, 2026, the enterprise announced the investment in a new jack-up drilling rig named PV DRILLINGsystem.
According to PetroTimes, the continuous expansion of the rig fleet in 2024, 2025 and 2026 has increased the total number of offshore drilling rigs owned by PV Drilling to 8 rigs. The business said its goal is to increase its capacity to meet customer needs in the context of the regional oil and gas drilling market maintaining a positive trend, while strengthening competitiveness and creating a foundation for long-term growth.
The context of the deal also shows that demand for drilling rigs in Southeast Asia remains high. Recently, PV Drilling has continuously signed contracts to supply drilling rigs for many offshore drilling campaigns, reflecting continued positive rig usage and market demand.
Summary table of PV Drilling's recent investment developments
Time Event Meaning
December 26, 2024 Receiving ownership of a new drilling rig Expanding rig fleet capacity
September 9, 2025 Receiving ownership of PV DRILLING IX Adding a modern jack-up drilling rig
June 2, 2026 Investment announcement of PV DRILLING X Preparing to expand exploitation capacity
July 28, 2026 Received handover of ownership of newly invested drilling rigs, bringing the total number of offshore drilling rigs owned to 8 according to PetroTimes
The significance of the event lies not only in the increase of a valuable asset but also in coin reflectiondirects oil and gas drilling service businesses to proactively expand capacity during favorable market cycles. By owning more rigs, PV Drilling has more ability to participate in international bidding packages, proactively arrange equipment for customers and reduce dependence on outsourcing sources. However, PetroTimes did not announce the deal value or investment costs of the handover on July 28, 2026, so the total investment value in VND cannot be determined from available official sources.
