Velesto Energy Malaysia announced that it has sold its jack-up drilling rig Naga 3 to PT Indonesia Drilling Energy for a cash consideration of US$63 million. The transaction is expected to be completed in the first half of 2026.
Velesto Energy stated that the sale is expected to generate approximately US$343,000 in proceeds. This aligns with the company’s ongoing fleet optimization strategy, which aims to focus on technologically competitive drilling rigs to solidify its position as a premium drilling rig operator. It also underscores the sustained demand for reliable drilling assets within the Malaysian and regional energy sectors.
Following the acquisition, PT Indonesia Drilling Energy will deploy the drilling rig in Malaysian waters through AFED TEXCAL Energy Ventures, a subsidiary of TEXCAL Energy, to support its exploration and production operations.
The Naga 3, constructed in 2010, is a high-specification, self-elevating drilling rig with independent pile legs and cantilevered structures. It has a maximum operating water depth of 350 feet and a maximum drilling depth of 30,000 feet.