Malaysia-based Velesto Energy’s subsidiary Velesto Sumber has won a contract for jack-up drilling rig services and related operations offshore Thailand from Northern Gulf Petroleum (NGP).
The contract involves the deployment of the NAGA 6 rig for a drilling campaign in the Gulf of Thailand.
The scope of the contract includes drilling four infill wells and three exploration wells, with options for up to two additional exploration wells. According to the company, operations under the contract are expected to begin in the third quarter of 2026.
NAGA 6 is described as a premium independent leg jack-up drilling rig with the capacity to drill to depths of up to 30,000ft (9,144m) and operate in waters up to 375ft deep.
Velesto Energy president Megat Zariman Abdul Rahim said: “We appreciate the confidence placed in Velesto by NGP. The award supports the continued utilisation of our premium jack-up rigs and is expected to contribute positively towards earnings.
“The contract award further strengthens Velesto’s drilling segment and reflects continued ability to secure opportunities across our core operating markets amid ongoing offshore development and exploration activities in the region.”
NGP, established in 2004, operates as Thailand’s only privately owned oil and gas exploration and production company. Its business focuses on the acquisition, development, operation and management of upstream oil and gas assets in South East Asia.
Velesto Energy provides upstream oil and gas services and has a fleet comprising six wholly owned jack-up drilling rigs and two hydraulic workover units.
The company states that it is the largest owner and operator of jack-up drilling rigs in Malaysia and South East Asia, with experience spanning multiple South East Asian countries including Indonesia, Vietnam, the Philippines and Thailand.
In a separate development in May 2026, Velesto announced a contract through its subsidiary, Velesto Drilling, with Hibiscus Oil & Gas Malaysia for the provision of a jack-up drilling rig for planned drilling activities in Malaysia.
The contract for Hibiscus includes drilling eight plug and abandonment wells and one exploration well, with up to seven additional optional wells. These operations were due to commence in May 2026.
“Velesto wins contract for NAGA 6 drilling rig in Thailand” was originally created and published by Offshore Technology, a GlobalData owned brand.
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