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Velesto Lands $51M Contract with Chevron Malaysia Amid Regional Rig Resumptions

Guavy AI Editorial Team
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Velesto Drilling has been awarded a $51 million contract by Chevron Malaysia to provide integrated rig, drilling and completion (i-RDC) services for its North Malay Basin Full Field Development Campaign. The NAGA 8 jackup is expected to start the campaign in August 2026.

This marks Velesto's second i-RDC contract award supporting the North Malay Basin development program.

Chevron also announced a discovery at the 105-4X exploration well in Block 0 offshore Angola, which encountered an oil and gas condensate column of more than 600 meters in the primary Pinda reservoir.

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