KUALA LUMPUR – Velesto Energy Bhd has signed a drilling contract with PETRONAS Carigali to use its NAGA 3 jack-up drilling rig for offshore operations in Malaysia. The deal includes one confirmed well and an optional second well, with drilling scheduled to begin in November 2026. The contract value and completion date were not announced, but the award is likely to boost Velesto’s earnings while supporting current offshore oil and gas development activities. Increased offshore drilling operations may also drive up demand for vessel maintenance, oily waste treatment, spent lubricant collection, and scheduled waste management services, emphasising the necessity of environmental compliance in offshore operations.
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(Source: The Star)