Jackup contract cut short as Velesto seeks new work

Malaysia’s Velesto Energy has agreed to terminate a contract without cause for one of its drilling rigs. Velesto said it has terminated the contract for the provision of Naga 8 jackup drilling rig services for PC Ketapang II, PC North Madura II, and Petronas North Ketapang. The client agreed to terminate the contract, awarded in … Read full article →