Petronas hires two Velesto rigs

Malaysia’s Velesto Energy, formerly known as UMW Oil & Gas, has received two contracts from compatriot Petronas Carigali for the provision of jack-up drilling rig services.

Illustration:One of Velesto’s jack-up rigs (Image source: Keppel Corporation) – The image has been cropped

Velesto said on Thursday the contracts were for the Naga 3 and Naga 5 jack-up rigs with an estimated combined contract value of $10.8 million. The contracts were awarded earlier, but the company said it had just received approval to announced the deals.

The Naga 3 deal is for two firm wells with an option of an additional two wells (1+1). The contract was expected to start on July 15 and end on August 15, 2018.

The second contract is also for two firm wells with an option for an additional two wells at a perioud from August 1 to August 31, 2018.

The Naga 3 and Naga 5 rigs are premium independent-leg cantilever jack-up drilling rigs that have a drilling depth capability of 30,000 feet and a rated operating water depth of 350 and 400 feet respectively.

Velesto added that the contracts would contribute positively to the earnings and net assets of the company during the contract period for the financial period ending December 31.

It is worth reminding that Velesto Energy secured a drilling contract for the Naga 4 jack-up drilling rig with Roc Oil last month.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2018 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Fuel Cell Expo 2019

FC EXPO is world’s largest show for hydrogen & fuel cell…

read more >

LNG Bunkering Summit 2019

LNG Bunkering Summit will cover the obstacles facing both the shipping and port communities…

read more >

Egypt Petroleum Show

This event will feature 500+ regional & international exhibiting companies from over 35 countries…

read more >

IoT in Oil & Gas 2019

The IoT in Oil & Gas 2019 Conference will continue to focus on helping operators…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply