Velesto has secured a PTTEP drilling contract for its NAGA 5 rig.
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PTTEP HK Offshore has issued a letter of award to Velesto Drilling.
This covers the supply of one jackup rig for the company’s 2025-2026 drilling campaign offshore southeast Asia.
Velesto will assign the NAGA 5 rig for the contract, which covers 15 wells with up to eight optional wells. The estimated value is about $40 million.
NAGA 5 is an independent-leg cantilever jackup rig capable of drilling to depths of 30,000 ft, with a rated operating water depth of 400 ft.
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Offshore's Europe Editor Jeremy Beckman recently interviewed Megat Zariman Abdul Rahim, president of Velesto Energy Berhad. Check back soon in our Exclusive Content section for the full Q&A.
