KUALA LUMPUR: Velesto Energy Bhd (VEB) has secured a US$12.4mil contract from Petronas Carigali Sdn Bhd for the provision of jack-up drilling rig services.

       “The contract is for the provision of jack-up rig, namely NAGA 2, with an estimated contract value of US$12.4mil,” VEB said in a filing with Bursa Malaysia.

       VEB said 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 received the letter of award.

       For the provision of drilling rig services for Petronas Carigali drilling programme, VEB Group assigned its NAGA 2 to drill five firm wells, with the extension option of one plus one well, with an expected commencement date of between Dec 1 to Dec 31, 2021.

       It said NAGA 2 is a premium independent-leg cantilever jack-up rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 350 feet.