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.