Velesto Rig Sinks While Working for ConocoPhillips

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A jack-up drilling rig has sunk offshore Malaysia while working for the oil major ConocoPhillips, reports Offshore Energy.

What happened?

According to The board of directors of Velesto Energy Berhad, an incident involving one of its rigs, Velesto NAGA 7 jack-up, occurred at the worksite due to rapid penetration into the formation on Monday, 3 May 2021, while operating offshore Sarawak for a client.

The company added that The NAGA 7 rig tilted and subsequently submerged at the location on 4 May 2021.

Velesto added that drilling activities had not started and no well had been drilled.

Personnel onboard

All personnel onboard are safe on the rescue vessels and the majority have been transferred to Miri, Sarawak. The remaining personnel are in the process of being transferred.

Investigation underway

The company is investigating the incident and evaluating options. The rig is covered by insurance and recovery efforts are ongoing and monitored.

About the jack-up rig

NAGA 7 is an independent-leg cantilever jack-up rig delivered in January 2015. It has a drilling depth capability of 30,000 feet and has a rated operating water depth of 375 feet.

The rig was in March 2021 hired by ConocoPhillips to drill up to three wells with the tentative start date sometime in the first half of 2021.

The value of Velesto’s contract with ConocoPhillips is about $8 million.

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Source: Offshore Energy

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