Global and Regional MarketsNewsThe Offshore Frontier

Velesto completes offline capabilities upgrade for 2 Malaysian jackups

Velesto Energy has completed offline capabilities upgrading work for its NAGA 5 and NAGA 6 jackups, making them the first Malaysian jackups to be equipped with offline capabilities. The upgrades will cater to client requirements and increase the competitiveness of these rigs during contract bidding.

“Given the current upward trend in the drilling segment, the successful completion could not be timelier,” said Velesto President Megat Zariman Abdul Rahim. “It also reflects our commitment to our clients in driving performance through operational excellence while ensuring the highest level of safety. The offline capabilities will further strengthen Velesto’s value creation as a local company on par with global players, offering sustainable competitive advantages.”

The offline capabilities on the two jackups will reduce the total time spent on wells, as the rigs will be able to do multiple scope of activities while drilling. With fewer rig days per well, it will help to bring down the overall drilling project costs for clients and indirectly reduce the industry’s emission footprint.

Earlier this year, NAGA 5 and NAGA 6 secured work orders with PTTEP HK Offshore and Petronas Carigali, respectively. NAGA 5 commenced its operations in July 2022, while NAGA 6 was expected to commence operations toward the end of August.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button