Velesto Energy retains Naga 3 jackup rig

Velesto Energy terminated the sale and purchase agreement for the disposal of its Naga 3 jackup rig to PT Indonesia Drilling Energy after the deal failed to complete by the agreed deadline. The termination took effect 7 July 2026 following a notice of termination issued 30 June by Velesto Drilling 3 (L) Ltd, a wholly owned subsidiary of Velesto Rig Assets (L) Ltd, to the buyer.

Velesto Drilling 3 retains its rights under the agreement, and Naga 3 remains an asset of the group. The company said the termination is not expected to have a material effect on its earnings or net assets for the financial year ending 31 December 2026.