PetroVietnam Drilling and Well Services Corporation
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PetroVietnam Drilling and Well Services Corporation - overview
Location
Ho Chi Minh City, -, Vietnam
Primary Industry
Oil & Gas
About
PetroVietnam Drilling and Well Services Corporation offers specialized drilling services and technical solutions for the oil and gas industry, ensuring efficient operations through modern equipment and skilled workforce training. PetroVietnam Drilling and Well Services Corporation operates in Ho Chi Minh City, Vietnam, providing drilling solutions for the oil and gas sector. The company focuses on delivering comprehensive drilling services and has executed 1 deal, with the most recent deal occurring on June 1, 2013. The firm has established a robust operational footprint within Vietnam, enhancing its service capabilities in line with industry demands.
PV Drilling specializes in providing comprehensive drilling services and technical solutions for the oil and gas industry. The company's core offerings include modern drilling rigs and a suite of drilling services, including well drilling, mechanical fabrication, quality control, maintenance, and equipment supply, all designed to meet international quality standards. PV Drilling also offers high-level technical services, emphasizing the importance of skilled workforce training and human resource development to enhance service delivery on drilling sites. Their clientele includes major oil companies operating both domestically in Vietnam and internationally in markets such as Indonesia and Malaysia, where they deploy their advanced drilling rigs like the PV DRILLING I, II, and III, tailored to various geological conditions and operational requirements.
By engaging with these global clients, PV Drilling addresses the essential need for reliable and efficient drilling operations, thereby contributing to the overall success of oil and gas exploration and production activities. In 2023, PetroVietnam Drilling and Well Services Corporation generated revenue of USD 243. 99 mn and achieved an EBITDA of USD 37. 73 mn.
The company primarily generates revenue through service contracts with clients in the oil and gas sector, structured around bespoke drilling services and equipment leasing agreements. These transactions involve fixed contracts negotiated for the duration of drilling projects, which may span several months to years depending on the complexity and depth of the wells being drilled. The pricing structure for these services reflects the operational demands and level of expertise required, ensuring a steady income stream supported by strategic partnerships within the sector. PetroVietnam Drilling and Well Services Corporation is actively pursuing growth initiatives, focusing on expanding its service offerings and geographic reach.
The company aims to develop new drilling technologies and plans to enter additional markets in Southeast Asia by 2025. The investment from PENM Partners in June 2013 will be utilized to support these expansions and enhance operational capabilities, ensuring that the company remains competitive in the evolving oil and gas landscape.
Current Investors
PENM Partners
Primary Industry
Oil & Gas
Sub Industries
Oil & Gas Equipment and Services
Website
www.pvdrilling.com.vn
Verticals
Manufacturing
Company Stage
Mature - Growth Capital
Total Amount Raised
Subscriber access only
PetroVietnam Drilling and Well Services Corporation - financials
| Fiscal Year Ended | Dec 31, 2011 | Dec 31, 2012 | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 9,210,836,178,656 | 11,929,456,110,560 | 14,866,679,679,275 | 20,884,328,724,600 | 14,444,280,050,219 | 5,360,001,691,643 | 3,890,709,275,040 | 5,500,144,331,664 | 4,368,072,890,952 | 5,228,638,834,323 | - | - | - |
| % Revenue Growth (YoY) | - | 29.5% | 24.6% | 40.5% | (30.8%) | (62.9%) | (27.4%) | 41.4% | (20.6%) | 19.7% | - | - | - |
| EBITDA (USD) | 2,178,706,154,023 | 2,074,319,379,928 | 2,752,706,785,905 | 3,421,852,954,641 | 2,748,373,836,754 | 428,012,158,306 | (160,969,848,480) | 253,126,078,512 | 255,162,035,528 | 303,798,164,064 | - | - | - |
| Operating Income (USD) | 1,468,691,145,726 | 1,051,731,458,636 | 1,649,442,376,575 | 2,356,032,226,910 | 1,354,453,530,917 | (299,518,735,728) | (949,257,996,120) | (355,326,553,152) | (335,478,903,872) | (184,525,878,936) | - | - | - |
| Operating Margin | 15.9% | 8.8% | 11.1% | 11.3% | 9.4% | (5.6%) | (24.4%) | (6.5%) | (7.7%) | (3.5%) | - | - | - |
| % EBITDA Margin | 23.7% | 17.4% | 18.5% | 16.4% | 19.0% | 8.0% | (4.1%) | 4.6% | 5.8% | 5.8% | - | - | - |
| NET Income (USD) | 1,072,613,471,811 | 1,447,522,797,608 | 1,993,165,265,135 | 2,539,982,464,388 | 1,747,567,635,677 | 185,641,600,249 | 35,561,718,360 | 172,691,394,528 | 172,172,835,328 | 183,824,148,975 | - | - | - |
| % Net Margin | 11.6% | 12.1% | 13.4% | 12.2% | 12.1% | 3.5% | 0.9% | 3.1% | 3.9% | 3.5% | - | - | - |
PetroVietnam Drilling and Well Services Corporation - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Growth | Completed | PetroVietnam Drilling and Well Services Corporation | - |
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