Velesto Energy reports that the VELESTO NAGA 7 rig, believed to be on contract to ConocoPhillips, was involved in an incident offshore Malaysia. Due to rapid penetration into the formation on 3 May 2021, whilst operating offshore Sarawak, the rig tilted and subsequently on 4 May 2021 the rig submerged at the location. Drilling activities have not commenced and no well has been drilled.
All personnel on-board are safe on the rescue vessels, and majority have been transferred to Miri, Sarawak. The remaining personnel are in the process of being transferred.
The Company is investigating the incident and evaluating options. The rig is covered by insurance and recovery efforts are ongoing and monitored.
The Company extends gratitude to all involved in the evacuation operation after the incident and the ongoing recovery efforts, including its client and all relevant authorities.
Source: Velesto Energy