Analysis of the current status and development orientation of PETROVIETNAM's drilling activities towards 2030

Abstract

Drilling activities play a pivotal role in increasing reserves, maintaining production, and ensuring investment efficiency across the oil and gas exploration and production value chain, particularly as major producing fields in Vietnam enter a phase of natural decline. However, studies on the scale, structure, and development trends of drilling activities in Vietnam remain limited. Based on the implementation results for the 2021 - 2025 period and the plan for 2026 - 2030, this study analyzes the current status, evolving trends, and emerging requirements for rig capacity, the technical service ecosystem, and drilling human resources.

During the 2026 - 2030 period, the Vietnam National Industry - Energy Group (Petrovietnam) plans to drill 300 wells, with total investment capital exceeding USD 7 billion. This scope of drilling activities is expected to expand from a primary focus on production targets towards comprehensive field life-cycle management, while also creating potential to utilize well data for assessing CO₂ storage capacity under CCS/CCUS schemes. The increase in scale and intensity of drilling activities over the medium term impose greater demands on rig capacity, the technical service ecosystem, and drilling human resources.

On this basis, the study proposes 4 key solution groups: (i) improving the centralized governance and coordination mechanism based on field clusters and field life cycles; (ii) enhancing domestic drilling rig capacity and the technical service ecosystem; (iii) developing drilling human resources across the entire drilling value chain; and (iv) completing end-of-field-life management procedures in association with sustainable development. These measures provide a foundation for Petrovietnam to effectively implement its drilling programs through 2030.