Velesto receives NOAs from PCSB for contracts worth US$265mil

KUALA LUMPUR: Velesto Energy Bhd’s (VEB) wholly-owned subsidiary, Velesto Drilling Sdn Bhd (VED) has received Notice of Assignments (NOAs) for its NAGA 2, NAGA 4 and NAGA 6 premium independent-leg cantilever jack-up rigs from Petronas Carigali Sdn Bhd (PCSB).

The NOAs are for two years until Feb 6, 2026, inclusive of the continuation of the current drilling campaign as per NOA dated Jan 11, 2024, March 7, 2023, and June 2, 2023, for a total contract value of US$73.04 million, US$94.88 million and US$97.08 million, respectively.