Carigali Hess charter Velesto jack-up on a 3-year contract

Malaysian offshore drilling company Velesto Drilling has scored a contract with Carigali Hess for the provision of a jack-up rig.

Naga 8 jack-up rig - Image source: Keppel Corp.
Naga 8 jack-up rig – Image source: Keppel Corp.

Velesto will assign the Naga 8 jack-up drilling rig for the contract which is expected to begin in the second half of 2020.

The contract has a duration of three years and is valued at around $131 million (not including extension options). Hess will have three six-month extension options.

The offshore rig has a drilling depth capability of 30,000 feet and has a rated operating water depth of 400 feet.

Carigali Hess, Velesto’s client for the contract, is a joint venture Oil and Gas company between PCJDA Ltd, and Hess Oil Company of Thailand Ltd based in Kuala Lumpur engaged in gas production in Block A-18 of the Joint Development Area administered by the Malaysian-Thailand Joint Authority (MTJA).

To remind, Velesto earlier this year said that the Naga 8 rig had started its 18-month contract with Hess in 2Q 2018.

Data from the Bassoe Analytics tool shows that the contract is set to expire in April 2020, meaning there will be a short idle period for the rig until the start of the contract announced on Tuesday.

Offshore Energy Today Staff

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