Velesto Wins Malaysia Offshore Rig Contract
16, May 2026
Velesto Energy secured a Malaysia offshore drilling contract with Hibiscus Oil & Gas covering nine firm wells and up to seven optional wells for 2026 operations.
Malaysia offshore
Petronas Carigali Locks In Naga 2 on 60-Month Charter
3, March 2026
Velesto Energy confirmed a 60-month charter for jack-up Naga 2 with Petronas Carigali, starting in February 2026. Contract value was undisclosed, with the deal expected to support utilisation and earnings visibility through 2030.
OceanSTAR Elite Lands 15-Year FPSO Charter for Sepat Redevelopment
2, March 2026
OceanSTAR Elite’s Malaysia unit signed a 15-year FPSO charter with PETRONAS Carigali for the Sepat Integrated Redevelopment offshore Terengganu, including EPCIC plus operations and maintenance.
Velesto Energy Agrees $63 Million Sale of Naga 3
17, December 2025
Velesto Energy agreed to sell the Naga 3 jack-up rig to PT Indonesia Drilling Energy for $63 million cash, with the unit slated for Malaysian waters via TexCal Energy’s AFED subsidiary.
LFG and PV Drilling Outline Plans for Malaysia Joint Venture
19, November 2025
Lianson Fleet Group and PV Drilling have agreed to review joint activities in Malaysia’s offshore drilling sector. Their planned partnership includes rig ownership, chartering and service support, with an initial target of two jack-up units. A shareholders’ agreement is expected in early 2026.
