Velesto Energy Berhad through its subsidiary has received three Notice of Assignments related to the contract for the Provision of Jack-Up Drilling Rigs for Petronas Carigali.
The Contract is for the provision of services of three jack-up rigs, namely “NAGA 3”, “NAGA 4” and “NAGA 6”, with an estimated combined contract value of USD128 million or RM570 million.
The three rigs are Naga 3, a premium independent-leg cantilever jack-up drilling rig with drilling depth capability of 30,000 feet and a rated operating water depth of 350 feet. Naga 4, a premium independent-leg cantilever jack-up drilling rig with drilling depth capability of 30,000 feet and a rated operating water depth of 400 feet, and Naga 6, a premium independent-leg cantilever jack-up rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 375 feet.
The company said the contract for the above commences from Quarter 3, 2022 until the completion of each respective campaign.T
Velesto views the provision of the above-mentioned services is expected to contribute to the earnings and net assets of VEB Group during the respective campaign period for the financial period ending 31 December 2023 and 2024.
