ENEOS Drilling, a subsidiary of ENEOS Xplora, has secured a contract with Japan Vietnam Petroleum Company (JVPC) for a two-well drilling campaign offshore Vietnam.
The campaign will utilise the Hakuryu-14 jack-up rig at Block 15-2 off the coast of Vung Tau.
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The drilling operation is expected to commence between late May and mid-June this year and Hakuryu-14 will embark on the 110-day drilling campaign.
The jack-up rig is a self-elevating cantilever jack-up capable of operating in water depths of up to 400ft.
Delivered in 2018 from Singapore’s PPL Shipyard, the rig is designed for deep-water drilling, high pressure, high temperature (HPHT) operations, and zero discharge operation.
The joint venture partnership for Block 15-2 comprises JVPC, holding 45%, and PetroVietnam Exploration & Production (PVEP) with 55%.
The block in the Cuu Long basin includes the Rang Dong and Phuong Dong oilfields, which began production in 1998 and 2008, respectively, with a combined output exceeding 250 million barrels.
In March 2025, JVPC, a wholly owned subsidiary of ENEOS Xplora, announced a new petroleum production sharing contract (PSC) for Block 15-2.
The contract was signed with PetroVietnam and PVEP as the original PSC was set to expire on 6 April 2025.
This new PSC is among the first under Vietnam’s new Petroleum Law, effective July 2023.
JVPC has been operating the Rang Dong and Phuong Dong oilfields since the original PSC in 1992, maintaining over 21 years of operations without any lost time injuries.
The company will continue as the operator of Block 15-2 under the new PSC, demonstrating its commitment to safe and stable operations.
