Malaysia’s offshore drilling contractor, Velesto Energy Berhad (VEB) announced that Velesto Drilling Sdn Bhd (VED), a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of VEB, has received a Letter of Award from PETRONAS Carigali Sdn. Bhd. (PCSB), for the Provision of Jack-Up Drilling Rigs for PCSB.
In a statement issued today, the Group said that the Contract duration is for two (2) years primary period, which is expected to commence in quarter 1 of 2022, with one (1) year plus one (1) year extension option.
VED will provide its suite of VEB Group’s NAGA rigs as call out by PCSB subject to the rig availability and suitability based on PCSB’s requirement.
To date, VED has 7 NAGA jack up rigs on its fleet namely NAGA 2, NAGA 3, NAGA 4, NAGA 5, NAGA 6, and NAGA 8.