PETALING JAYA : While average daily charter rates are expected to soften further in the second half of this year (2H25), analysts remain optimistic that Velesto Energy Bhd
’s rig utilisation will rebound to between 70% and 80%, supported by stronger contract visibility with work secured for five out of six rigs in 2H25.
Hong Leong Investment Bank Research (HLIB Research) said specifically, Naga 2, Naga 4 and Naga 6 are contracted with PETRONAS Carigali Sdn Bhd (PCSB).
