AsemconnectVietnam - PetroVietNam Driling & Well Services Corporation (PV Drilling, code PVD - HOSE) has just announced the documents for the 2025 Annual General Meeting of Shareholders, which will be held on April 23.

In 2025, PVD sets a target of total consolidated revenue of VND7,200 billion and consolidated profit after tax of VND530 billion, a decrease of 25% in revenue and 24% in profit compared to 2024.
This plan of the Company is based on the assumption that 4 jack-up rigs operate continuously with an average unit price equivalent to 2024, along with 1 semi-submersible rig TAD operating continuously throughout the year in Brunei.
This year, PV Drilling's management board believes that the Company will face many new challenges as well as welcome new opportunities. It is forecasted that prolonged political conflicts and unpredictable developments will affect the transportation of goods, causing the price of raw materials and input costs to increase, affecting production and business activities. In addition, according to the EIA report, the average Brent oil price in 2025 will fluctuate at 74 USD/barrel, down from 80 USD/barrel in 2024, mainly due to the forecast of increased inventories, causing downward pressure on prices by the end of 2025.
Regarding the demand for drilling rigs, the forecast of the world's demand for jack-up rigs tends to temporarily stagnate in 2025. In the context of the global oil market experiencing many fluctuations, PV Drilling will ensure stable and continuous work for drilling rigs, promote core business activities, and consolidate work in the domestic market, although the current domestic drilling programs are mostly short-term and not continuous.
Regarding the investment plan, PVD's total estimated cost in 2025 is about VND2,292 billion, in which PV Drilling will mainly continue to implement projects transferred from 2024 and invest in an additional multi-purpose jack-up rig with a total estimated investment of about VND2,125 billion. The investment in the rig is based on market assessment, ensuring investment efficiency and fast depreciation, and quick capital recovery.
Regarding the profit distribution plan, PV Drilling proposed a plan to pay dividends in cash in 2024 at a rate of 5%. As for 2025, the Company will consider submitting a specific plan to shareholders at the 2026 Annual General Meeting of Shareholders in accordance with the Company's investment needs and actual business results.
N.Nga
Source: VITIC/Tinnhanhchungkhoan