PVEP POC lets rig contract for southeast Asia work

Dec. 11, 2023
PetroVietnam Domestic Exploration Production Operating Co. Ltd. let a contract for the Shelf Drilling Perseverance jack-up rig.

PetroVietnam Domestic Exploration Production Operating Co. Ltd. (PVEP POC) let a contract to Shelf Drilling Ltd. and Shelf Drilling (North Sea) Ltd. for the Shelf Drilling Perseverance jack-up rig.

The rig will mobilize to Southeast Asia. Start-up of operations is planned for third-quarter 2024. The firm term of the contract is about 16 months, and the total estimated contract value is about $73 million.