Velesto Bags Petronas Drilling Job

Malaysia's Velesto Drilling, a subsidiary of  Velesto Energy, has been awarded four contracts worth a total of RM432.33mln (US$104.68 million) from Petronas Carigali Sdn Bhd for the provision of jack-up drilling rig services.

 Velesto Energy, formerly known as UMW Oil & Gas, said in a stock exchange announcement that the contracts are for the provision of four drilling rigs - the Naga 2, Naga 3 and Naga 5 jack-up rigs.

The first three rigs will start their contract in April or May and the last one in June or July 2019. The fourth contract will start in June/July and Velesto will assign NAGA 6.

Estimated contract values for the rigs, for firm period only, are $25.4 million for NAGA 2 and for NAGA 3, each. For NAGA 5 the value of the contract is $26.2 million and for NAGA 6 the contract is worth $27.6 million.

NAGA 5 has a drilling depth capability of 30,000 feet and a rated operating water depth of 400 feet whereas NAGA 6 has a drilling depth capability of 30,000 feet and a rated operating water depth of 375 feet.

NAGA 2 and NAGA 3 are premium independent-leg cantilever jack-up drilling rigs that have a drilling depth capability of 30,000 feet and have a rated operating water depth of 350 feet.

It said the duration of the contracts is one year, with the option of an additional one year plus a one-year extension for each of the contracts.

Current News

Ørsted Strengthens Offshore Wind Position in South Korea

Ørsted Strengthens Offshore Wi

Eolink's 5MW Floating Wind Turbine Starts Taking Shape in Brest

Eolink's 5MW Floating Wind Tur

Enhanced Drilling Wins Equinor Contract for Norwegian Ops

Enhanced Drilling Wins Equinor

Perenco Spuds Appraisal Well Offshore Gabon

Perenco Spuds Appraisal Well O

Subscribe for OE Digital E‑News

Offshore Engineer Magazine