- Phu Quoc Petroleum let a contract to Velesto Energy for drilling offshore southwest Vietnam.
- Velesto’s NAGA 4 jack-up rig will undertake drilling activities for more than 40 wells.
Phu Quoc Petroleum Operating Co. (PQPOC) has let a contract to Velesto Energy Berhad for drilling offshore southwest Vietnam.
Under the contract, Velesto’s NAGA 4 jack-up rig will undertake drilling activities for more than 40 wells. Operations are expected to begin in first-half 2026.
NAGA 4 is a premium independent-leg cantilever jack-up drilling rig with drilling depth capability of 30,000 ft and has a rated operating water depth of 400 ft.
PQPOC is operator of blocks B, 48/95 and 52/97, offshore Southwest Vietnam in the Malay - Tho Chu basin of Vietnam’s continental shelf 300 km off the Ca Mau coastline in 77 m of water.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).
