Velesto Energy has confirmed a five-year contract with Petronas Carigali for its jack-up rig Naga 2, with operations commencing in February 2026. The charter is for a firm 60 months, while the contract value was not disclosed.

Velesto Energy said the award is expected to contribute positively to rig utilisation and earnings visibility from 2026 to 2030. The company also said the contract supports its focus on disciplined execution across its operating markets in Southeast Asia and Malaysia.

Naga 2 is an independent-leg cantilever jack-up drilling rig that can drill to about 9,144 m and is rated to operate in water depths of up to about 107 m, according to the contractor.

Velesto Energy president Megat Zariman Abdul Rahim said the award is an important milestone for the company and described it as a strong start to 2026, adding that the group remains committed to safe operations and consistent performance across the contract period.