Velesto rig lands ConocoPhillips gig

Malaysian offshore drilling contractor Velesto Drilling has received a letter of award from ConocoPhillips for the provision of jack-up rig services.

The contract is for a jack-up rig named NAGA 7 with an estimated contract value of $8 million, Velesto said in a Bursa Malaysia filing on Friday.

Under the contract, the NAGA 7 jack-up drilling rig will undertake drilling services for ConocoPhillips.

The contract is for the drilling of up to three wells with the tentative start date sometime in the first half of 2021.

NAGA 7 is an independent-leg cantilever jack-up rig delivered in January 2015. It has a drilling depth capability of 30,000 feet and has a rated operating water depth of 375 feet.

A week ago, Velesto was also awarded a drilling services contract worth nearly $21 million with compatriot oil giant Petronas Carigali.

Under this contract, Velesto will provide Petronas with two jack-up rigs, NAGA 2 and NAGA 5.

The NAGA 7 rig also previously worked for Petronas back in 2019. Before that, the rig worked for Shell.