Vietnam’s Petrovietnam Drilling and Well Service Corporation (PV Drilling) has commenced a drilling program for Northern Gulf Petroleum in the Gulf of Thailand.
PV Drilling’s 2007-built jack-up rig PV DRILLING I started to perform the drilling program at Block G6/48, Rossukon conventional oil field, on October 10.
The drilling contract between the two companies was officially signed on June 1 with a duration of 60 days. After completing the drilling campaigns for Thang Long, Vietsovpetro in Vietnam, on October 2 PV Drilling pulled the PV DRILLING I rig from Vietnam’s water to transfer to NGP.
Northern Gulf Petroleum holds a 57% interest in the Rossukon conventional oil field, while Valeura Energy holds the 43% operated interest, acquired on June 15, 2022.
Valeura Energy Inc (TSX:VLE) is an upstream oil & gas company, with a clear strategy to add value for shareholders. The Company has a strong balance sheet positioning it for potential inorganic growth opportunities in the near/medium-term, and substantial longer-term upside potential through an operated deep, tight gas play.
