Velesto Energy Berhad (‘Velesto’) has announced that
it has completed its Mandatory Five Yearly Special Periodical Survey (‘SPS’) for NAGA 2. The rig had been drydocked in Singapore since 24 June 2024. It will subsequently head to Sarawak, where it will commence on a development drilling campaign.
In addition, Velesto has received a Letter of Award for NAGA 3 from Thang Long Joint Operating Company. NAGA 3 is expected to be working in Vietnam from September to November 2024.
Velesto’s President, Megat Zariman Abdul Rahim said, “We are pleased with both
positive developments. NAGA 2 completing its SPS on time allows the rig to continuously support our client’s workplans for the remaining contract period.”
“We are also delighted that NAGA 3 has been given the opportunity to return to work in Vietnam, allowing us to maximise our utilisation before NAGA 3’s SPS in 1Q 2025. We are determined to deliver service excellence in terms of operational and HSE performance to support our clients. The Southeast Asia jack-up market remains robust and we continue to bid actively in Southeast markets, he added.”
In March 2024, Velesto announced it was awarded a letter of extension from Petronas Carigali Sdn Bhd for its umbrella contract from February 2024 to February 2026, including Notice of Assignments for NAGA 2, NAGA 4 and NAGA 6.
