Hibiscus lets contract for drilling rig offshore Malaysia
Key Highlights
- Hibiscus Oil & Gas let a contract for a jack-up drilling rig.
- The scope of work is for wells across PM3 CAA offshore Malaysia.
- Operations are scheduled to start in May 2026.
Hibiscus Oil & Gas Malaysia Ltd. let a contract to Velesto Drilling Sdn Bhd for a jack-up drilling rig for Hibiscus’ 2026 offshore drilling campaign in Malaysia.
The scope of work covers drilling services for eight plug and abandonment (P&A) wells, one exploration well, and up to seven optional wells. This is Velesto’s first contract utilizing a third-party jack up rig under a charter arrangement.
Operations are scheduled to begin this month across the PM3 Commercial Arrangement Area straddling the maritime border of Malaysia and Vietnam. If optional wells are exercised, the operations would also include areas in North Sabah, offshore Malaysia.