Vietnam PVD Signs Deal to Lease Oilrig to Groupement Bir Seba
PetroVietnam Drilling and Well Services Corporation (PVD) or PV Drilling has clinched a three-year contract to lease an oilrig named PV DRILLING 11 to Groupement Bir Seba.
The contract will take effect from October 15, PVD said on its website, giving no detail on the investment.
Groupement Bir Seba is a joint venture of PetroVietnam Exploration Production Corporation or PVEP (40%), Algerian SONATRACH Petroleum Corp. or SONATRACH (25%) and Thai PTT Exploration & Production Public Co., Ltd or PTTEP (35%).
Earlier, PV DRILLING 11 conducted drilling in PVEP’s MOM-3 oilfield in Algeria.
Among largest stocks on the Hochiminh Stock Exchange, PVD expects a net profit at VND950 billion on revenues of VND6.5 trillion in 2010, higher its earlier targets with pretax profit of VND810 billion and revenues of VND5.1 trillion. (PVdrilling)
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