Offshore drilling unit of Malaysia’s Velesto Energy has secured a two-year contract extension with Petronas Carigali for three of its jackup drilling rigs.
The company said in a filing that, inclusive of its current drilling campaign assigned between 2023 and 2024, the fixtures are worth a total of about $265m.
The contract extension covering the rigs Naga 2, Naga 4, and Naga 6 has already kicked in and runs until February 6, 2026.
The deal highlights strong utilisation and also indicates the potential for robust financial performance in the coming years, with an order book extending to 2025 and 2026, Velesto Energy noted.