The Malaysian Reserve

Velesto Energy bags RM44m contracts from Petronas Carigali

by TMR

Velesto Energy Bhd’s (VEB) unit Velesto Drilling Sdn Bhd has received two letter of awards worth US$10.8 million (RM43.94 million) from Petronas Carigali Sdn Bhd for the use of two jack-up drilling rigs, Naga 3 and Naga 5.
 
In an exchange filing yesterday, Velesto noted the first contract is for the provision of drilling rig services for Petronas Carigali’s drilling programme, whereby VEB will assign its Naga 3 to drill two firm wells with an option of additional one plus one wells, with expected commenced date, between Jul 15, 2018 to Aug 15, 2018.
 
The second contract is for the provision of drilling rig services via Naga 5 to drill two firm wells with an option of additional two wells, with expected commencement date, between Aug 1, 2018 to Aug 31, 2018.
 
The two rigs are premium independent-leg cantilever jack-up drilling rigs that have a drilling depth capability of 30,000 ft as well as a rated operating water depth of 350 ft and 400 ft respectively.