Petronas takes four Velesto jackups on one-year contracts

Petronas takes four Velesto jackups on one-year contracts

Malaysia’s Velesto Energy subsidiary Velesto Drilling has been awarded contracts by Petronas for four of its jackup rigs.

The charters are for one year, with one-year extension options, and are worth a total of around $105m.

Naga 2, Naga 3, and Naga 5 have a commencement date in and around April/May 2019, while Naga 6 will commence its contract in June or July.

Velesto Energy, formerly known as UMW Oil & Gas Corporation, has a fleet of seven jackup rigs in total.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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