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PETROVIETNAM DRILLING & WELL SERVICE CORPORATION

Active

Business ID 0302495126

84-28 / 3914 2012 - 3914 2021

PETROVIETNAM DRILLING & WELL SERVICE CORPORATION

Active

Business ID 0302495126

84-28 / 3914 2012 - 3914 2021

PETROVIETNAM DRILLING & WELL SERVICE CORPORATION

Active

Summary

Name:

PETROVIETNAM DRILLING & WELL SERVICE CORPORATION

Business ID (TIN):

0302495126

Date of Registration:

15 Feb 2006

Registered Office:

Ho Chi Minh City Department of Planning and Investment

Ticker:

PVD

Address:

4th Floor, Sailing Tower Building, No. 111A, Pasteur Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Phone:

84-28 / 3914 2012 - 3914 2021

Financial Statement:

2020, 2021, 2022, 2023, 2024

In Vietnam’s petroleum support sector, few names carry as much operational and strategic weight as PETROVIETNAM DRILLING & WELL SERVICE CORPORATION (TỔNG CÔNG TY CỔ PHẦN KHOAN VÀ DỊCH VỤ KHOAN DẦU KHÍ), also known as PV Drilling. With nearly two decades of experience, this joint stock company, headquartered at 4th Floor, Sailing Tower Building, No. 111A, Pasteur Street, Ben Nghe Ward, District 1, Ho Chi Minh City, plays a central role in Vietnam’s upstream oil and gas supply chain.

Registered under Business ID 0302495126 and listed on the Ho Chi Minh Stock Exchange (HOSE) with the ticker PVD, PV Drilling is a core subsidiary of the state-owned Vietnam National Industry – Energy Group (Tập đoàn Công nghiệp Năng lượng Việt Nam), which holds a controlling 50.42% stake. Other notable institutional investors include CTBC Vietnam Equity Fund, Norges Bank, and Amersham Industries.

Financial Recovery and Growth Momentum

After facing losses in 2022, the company recorded an impressive turnaround. Net profit surged to USD 28.67 million in 2024, up 27.85% year-over-year, while total sales soared 60.02% to USD 381.58 million. These figures reflect both improved drilling activity and stronger oil market demand across Southeast Asia.

PV Drilling's total assets reached USD 970.16 million, and owner’s equity stood at USD 659.48 million, reinforcing its strong balance sheet. Working capital remains healthy at USD 150.29 million, though slightly down from the prior year.

Such figures indicate a well-capitalized company that is weathering market cycles with increasingly efficient operations. From a credit perspective, this transition from loss-making to profit-earning territory places PV Drilling (TỔNG CÔNG TY CỔ PHẦN KHOAN VÀ DỊCH VỤ KHOAN DẦU KHÍ) among the most stable entities in Vietnam’s energy support services industry.

Business Scope and Industry Integration

PV Drilling provides an extensive array of services including offshore drilling, well geophysics, oil spill response, drilling rig operations, equipment leasing, labor supply, investment consulting, and technical project management—a portfolio that mirrors the complex needs of today’s oil and gas industry.

Its registered business lines also cover industrial machinery installation, waste management, vocational education, and design services, indicating a forward-looking strategy of vertical integration and diversification beyond pure upstream services.

Executive Leadership and Governance

Under the leadership of Chairman Mr. MAI THẾ TOÀN and General Director Mr. NGUYỄN XUÂN CƯỜNG, the company manages a workforce of over 1,600 employees. The executive team, composed of experienced Vietnamese professionals, maintains close coordination with state institutions while driving operational efficiency and investment into technical innovation.

Risk & Credit Evaluation by VBI

Given its strategic importance and the backing of state capital, PV Drilling (TỔNG CÔNG TY CỔ PHẦN KHOAN VÀ DỊCH VỤ KHOAN DẦU KHÍ) remains a low-risk entity for long-term partnerships, vendor contracts, and financial engagements. However, VANGUARD BUSINESS INFORMATION LLC (VBI) advises stakeholders to closely monitor global crude oil price volatility and capital expenditure trends, as these factors directly impact PV Drilling’s revenue flow.

For due diligence, investor risk assessments, or supply chain evaluation, VBI offers in-depth Company Credit Reportsand Petroleum Sector Risk Profiles, tailored for both Vietnamese and international clients seeking trusted insights into high-value enterprises like PV Drilling.

Legal Profile

English Name:

PETROVIETNAM DRILLING & WELL SERVICE CORPORATION

Vietnamese Name:

TỔNG CÔNG TY CỔ PHẦN KHOAN VÀ DỊCH VỤ KHOAN DẦU KHÍ

Short Name:

PV DRILLING CORP

Business ID (TIN):

0302495126

Date of Registration:

15 Feb 2006

Registered Office:

Ho Chi Minh City Department of Planning and Investment

Ticker:

PVD

Ownership Status:

Invested by State-Owned Company

Operation Status:

Active

Contacts

Key Decision Makers:

+ MAI T.T

+ DO D.C

+ NGUYEN X.C

+ NGUYEN C.D

+ NGUYEN T.S

+ DINH Q.N

+ HO V.H

+ DO D.R

+ NGUYEN N.T

Address:

4th Floor, Sailing Tower Building, No. 111A, Pasteur Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Phone:

84-28 / 3914 2012 - 3914 2021

Branch:

3rd Floor, Sailing Tower Building, No. 111A, Pasteur Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Business Sector

Key business lines:

VSIC:

0910 Support activities for petroleum and natural gas extraction

NACE:

09.10 Support activities for petroleum and natural gas extraction

NAICS:

213112 Support Activities for Oil and Gas Operations

Industry Sales Growth

CAGR (2019 - 2023)

-15.09%

YoY (2023)

-2.77%

Companies by industry

Company distribution and propportions

177

0.0061%

Key Industry Players

Top 10 companies in support activities for petroleum and natural gas extraction industry

petrovietnam exploration production corporation limited petro vietnam technical services corporation vietnam national industry – energy group petrovietnam drilling & well service corporation ptsc offshore services joint stock company pv drilling – baker hughes well technical services joint venture company limited ptsc production services joint stock company petroleum well logging company limited thien nam offshore services joint stock company 128 one member limited liability company

Payment History

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Financial Performance

Assets	8.75%
Owner’s Equity	61.51%
Working Capital	6.78%
Net Worth	85.90%
Sales	-63.53%
Operating income	-91.61%
EBIT	18.88%
Gross Profit Margin	28.49%
Debt to EBITDA	52.59%

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Specific Questions About PETROVIETNAM DRILLING & WELL SERVICE CORPORATION

When did PETROVIETNAM DRILLING & WELL SERVICE CORPORATION start operating?

PETROVIETNAM DRILLING & WELL SERVICE CORPORATION was started in 15 Feb 2006

What industry does PETROVIETNAM DRILLING & WELL SERVICE CORPORATION operate in?

PETROVIETNAM DRILLING & WELL SERVICE CORPORATION is operating in "Support activities for petroleum and natural gas extraction" industry

How can I contact PETROVIETNAM DRILLING & WELL SERVICE CORPORATION?

PETROVIETNAM DRILLING & WELL SERVICE CORPORATION phone numbers is 84-28 / 3914 2012 - 3914 2021

What adverse news is there about PETROVIETNAM DRILLING & WELL SERVICE CORPORATION?

PETROVIETNAM DRILLING & WELL SERVICE CORPORATION’s has 3 bad news

What is stock symbol of PETROVIETNAM DRILLING & WELL SERVICE CORPORATION?

PETROVIETNAM DRILLING & WELL SERVICE CORPORATION’s stock symbol is PVD

Where is the location of PETROVIETNAM DRILLING & WELL SERVICE CORPORATION?

PETROVIETNAM DRILLING & WELL SERVICE CORPORATION is located at 4th Floor, Sailing Tower Building, No. 111A, Pasteur Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

What is PETROVIETNAM DRILLING & WELL SERVICE CORPORATION’s business registration?

PETROVIETNAM DRILLING & WELL SERVICE CORPORATION business registration is 0302495126

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PETROVIETNAM DRILLING & WELL SERVICE CORPORATION