Velesto Drilling has secured a contract from Petronas Carigali for Naga 3 to drill one firm well offshore Malaysia, with an option covering a further well.
A company announcement dated 4 November 2026 lists November as the expected start of operations. Neither the dayrate nor the total contract value was disclosed, and no completion date was given.
Parent company Velesto Energy expects the work to make a positive contribution to group earnings and net assets during the contract. President Megat Zariman Abdul Rahim said the award would support the rig’s utilisation and improve visibility of near-term revenue.
Naga 3 is an independent-leg cantilever jack-up with a maximum drilling depth of 30,000 feet and an operating water-depth rating of 350 feet.
The assignment follows the cancellation of Velesto’s planned $63 million sale of the rig to PT Indonesia Drilling Energy. Velesto announced that proposed transaction in December 2025. Splash247 reported that the deal ended in July 2026 because the buyer failed to meet the completion deadline.
