Drilling and oilfield service supplier, Velesto Energy Bhd (VEB) has bagged a contract from Carigali Hess Operating Company Sdn Bhd for the availability of 10Ok jack up drilling rig for 2020 drilling programme price RM131 million.
The contract was secured by way of Velesto Drilling Sdn Bhd, a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in flip is a wholly-owned subsidiary of VEB.
“VEB Group will assign NAGA eight for this contract with an estimated contract worth of RM131 million. The contract is anticipated to begin within the second half of 2020, for a length of three years with three extension choices of six months every,” Rohaizad Darus, President, Velesto Energy Berhad stated.
NAGA eight is a premium independent-leg cantilever jack-up rig that has a drilling depth functionality of 30,000 ft and has a rated working water depth of 400 ft.
The contract is anticipated to contribute positively in direction of the earnings and web property of VEB Group through the contract interval for the monetary interval ending Dec 31, 2020.
Nanga eight is a Keppel FELS B Class inbuilt Singapore and delivered in September 2015.
(Source and picture: Velesto Energy)
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