Velesto Completes Removal of Wrecked Naga 7 Jack-Up Rig Off Malaysia

Friday, November 22, 2024

Malaysia’s oil and gas services firm Velesto has completed the wreck removal of the its Naga 7 jack-up rig, which submerged off the coast of Sarawak in Malaysia in 2021.

The removal operations, except for the earlier removed helideck, were carried out by the contractor, Boskalis Malaysia in accordance with applicable regulatory requirements and in close coordination with the relevant authorities.

The operations for the removal of the wreck commenced offshore Sarawak at the end of May 2023 and were conducted over 2 seasons in 2023 – 2024.

They involved removal of the wreck, removal of debris and closing activities, with the remaining recycling activities currently expected to close by December 2024.

To remind, Naga 7 jack-up was preparing to start a drilling operation of a subsidiary of the U.S. oil firm ConocoPhillips in 2021, when it tilted, and subsequently sank.

Velesto said at the time that the incident had happened due to a rapid penetration into the seabed.



The loss of Naga 7 jack-up was recovered from Hull & Machinery Insurers with recognition of insurance claim of $125.6 million (RM 560.9 million) as announced in the company’s quarter results announcement in February 2022.

The company has the Certificate of Completion and release order from the Marine Department on the successful wreck removal confirming that the removal order has been complied with.

Categories: Subsea Industry News Activity Asia Safety & Security Oil and Gas

Related Stories

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

EnerMech Names APAC Regional Chief

Sapura Energy Nets $720M from Multiple Drilling Services Contracts

ADNOC Secures LNG Supply Deal with India's BPCL

Petronas to Retain National Authority After Sarawak Gas Deal

Yinson Production Scoops $1B Investment to Upscale FPSO Business

CNOOC’s South China Sea Oil Field Goes On Stream

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Pharos Energy Extends Licenses for Two Vietnamese Gas Fields

Current News

Shell-Reliance-ONGC JV Complete India’s First Offshore Decom Project

The Future of Long-Idle Drillships: Cold-Stacked or Dead-Stacked?

TMC Books Compressors Orders for FPSO and LNG Vessels

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com