Velesto completes offline capabilities upgrade for Naga 5 and 6

Velesto completes offline capabilities upgrade for Naga 5 and 6

KUALA LUMPUR: Velesto Energy Bhd has completed upgrading works for its Naga 5 and Naga 6 rigs to make them the first in the country with offline capabilities.

The group said the offline capabilities on the two jack-up rigs will reduce the total time spent on wells as the rigs are 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, it added.

"Given the current upward trend in the drilling segment, the successful completion could not be timelier.

"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," said Velesto president Megat Zariman Abdul Rahim in a statement.

Earlier this year, Naga 5 and Naga 6 secured work orders with PTTEP HK Offshore Ltd and PETRONAS Carigali Sdn Bhd respectively.

Naga 5 has commenced its operations since July 2022 while Naga 6 is expected to commence operations towards the end of August 2022, within Malaysia upon the completion of the upgrades.

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Velesto , Naga , rig , upgrade , Megat Zariman Abdul Rahim


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