PETALING JAYA: Velesto Energy Bhd has completed the offline capabilities upgrading works for Naga 5 and Naga 6, making the two rigs the first Malaysian jack-up drilling rigs to be equipped with offline capabilities.
The upgrades will cater to clients’ requirements and increase the competitiveness of these rigs during contract bidding.
Velesto president Megat Zariman Abdul Rahim said this is the first time that Velesto has carried out upgrades for its jack-up rigs. Given the current upward trend in the drilling segment, the successful completion could not be timelier.
“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 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.
Earlier this year, Naga 5 and Naga 6 secured work orders with PTTEP HK Offshore Limited 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.
