Malaysian offshore drilling firm Velesto Drilling has received the Letter of Award from Vestigo Petroleum for the provision of jack-up drilling rig.
The contract is for Velesto's jack-up drilling rig NAGA 2, with an estimated contract value of $10.9 million.
Under the contract, expected to start in the fourth quarter of 2023, Vestigo, a subsidiary of Malaysia's Petronas Carigali, will use the rig to drill five firm wells.
The NAGA 2 is a premium independent-leg cantilever jack-up rig with a drilling depth capability of 30,000 feet (9144 meters) and a rated operating water depth of 350 feet (106.68 meters).
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