Fossil Energy – Drilling
Velesto has secured a drilling contract for the NAGA 8 jack up rig for work offshore Indonesia.
NAGA 8 is an independent-leg cantilever jack up drilling rig with a drilling depth capability of 30,000 ft and has a rated operating water depth of 400 ft.
The contract is for a firm period of four years, covering 12 firm wells and three optional wells, with an estimated contract value of more than $90 million. It is scheduled to begin in July of this year.
