Velesto Energy has terminated a drilling contract involving the Naga 8 jack-up rig in Malaysia. The rig remains deployed for Jadestone’s East Belumut Phase 9 project until July 2026.
Velesto Sumber has secured a contract from Northern Gulf Petroleum to provide the Naga 6 jackup rig and drilling services for a seven-well campaign in the Gulf of Thailand, strengthening Velesto’s offshore drilling portfolio in Southeast Asia.
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.
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.
Velesto Energy secured a $16.5m-plus jackup contract from Jadestone Energy for the 2015-built Naga 8 rig to drill East Belumut Phase 9 from March–July 2026.
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.
Velesto Energy reports a $769 million tender book and focuses on securing long-term contracts. The company maintains strong fleet utilization in Malaysia, Thailand, and Indonesia, with a focus on operational excellence.
