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Shell contracts Velesto rig for Malaysia campaign

Velesto Energy Berhad (VEB) has announced that Velesto Drilling Sdn Bhd (VED), a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of VEB, has received a Letter of Award from Sarawak Shell Berhad/Sabah Shell Petroleum Co. Ltd. (SSB/SSPC) for a contract for the provision of jack-up drilling rig services.

The contract is for VEB’s jack-up rig NAGA 4 to drill seven firm wells, with an estimated contract value of US$17.68 million. The expected commencement date is between 15 August 2021 to 15 October 2021.

NAGA 4 is an independent-leg cantilever jack-up drilling rig that has a drilling depth capability of 30 000 ft and has a rated operating water depth of 400 ft.