Velesto Energy Berhad (VEB) announced that its wholly owned subsidiary Velesto Drilling Sdn Bhd (VED) has received Letter of Award from PETRONAS Carigali Sdn. Bhd. (PCSB), for the provision of jack-up drilling rig services
In a filing to Bursa Malaysia today, the group said the contract was awarded to its jack-up rig, namely NAGA 2, with an estimated contract value of USD12.5 million.
For the provision of drilling rig services for PCSB’s drilling programme, VEB Group assigns its NAGA 2 to drill five (5) firm wells, with the extension option of one (1) plus one (1) well, with an expected commencement date of between 1 December 2021 to 31 December 2021.
NAGA 2 is a premium independent-leg cantilever jack-up rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 350 feet.
