Petrovietnam Drilling and Well Service Corporation (PV Drilling) has entered into a contract for the provision of the jack-up rig PV Drilling I to the Singapore-based oil company KrisEnergy in Thailand.
The two companies entered the deal on August 21, PV Drilling said last week.
The work will be performed in Block G10/48 in the Gulf of Thailand and remain in effect for the duration required to complete six firm wells and two optional wells. The deal for the rig is worth approximately $6 million.
The rig will be mobilized and begin operations in early October 2017.
The jack-up rig will perform the work for KrisEnergy (Gulf of Thailand) Ltd, a wholly owned subsidiary of KrisEnergy Limited, which has an 89 percent working interest and operatorship of the G10/48 Block with Palang Sophon Offshore holding the remaining 11 percent.
PV Drilling I completed a contract in Myanmar for Total E&P Myanmar in April 2017.
The G10/48 concession holds the Wassana oil field which began producing oil in 2015. The block covers 4,696 square kilometers over the Southern Pattani Basin in water depths of up to 60 meters. The contract area contains three other discoveries – Niramai and Mayura from 2009 and Rayrai in 2015.