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ConocoPhilips confirms chartered rig has sunk off Miri | Malaysia

KUCHING, May 4 — ConocoPhilips Sarawak Ltd, a multinational oil and gas exploration company today confirmed that a jack-up drilling rig, NAGA 7, that they chartered had listed last Monday offshore Sarawak, near Miri, about 840km north from here. It said the incident took place at about 2.45pm...

Kuching , Sarawak , Malaysia , Malaysian , Conocophilips-sarawak-ltd , Twitter , Velesto-energy-bhd , Emergency-response-team , Seafarer-life-facebook , Perdana-marathon , Armada-tuah

Rig sinking scuppers key exploration campaign offshore Malaysia

Gain valuable insight into the global oil and gas industry's energy transition from
The operator was to have initially drilled the Salam-3 appraisal well on Block WL4-00, which was expected to take 25 days to complete, and this would have been followed by the Gagau-1 wildcat on the same production sharing contract. The Gagau-1 exploration well was also expected to take some 25 days.
The operator for a few years has been working on plans and engineering studies to exploit its shallow-water discoveries on Block WL4-00, which is home to the Salam field and satellite Patawali and Benum finds.
Base case development concept

Malaysia , Naga-dragon , Petronas-carigali , Conocophillips , Velesto-drilling , Setia-jihad , Perdana-marathon , Armada-tuah , மலேசியா , நாகா-டிராகன் , கோனோகோபிலிப்ஸ்

ConocoPhillips confirms chartered rig has sunk off Miri

KUCHING (Bernama): Multinational oil and gas exploration company ConocoPhilips Sarawak Ltd has confirmed that the NAGA 7 jack-up drilling rig they chartered had listed on Monday (May 3) near Miri, about 840km north from here.
It said the incident took place at about 2.45pm when the rig was being positioned at Salam-3, about 260km off Miri and their Emergency Response Team had been mobilised soon after all the personnel were ordered to evacuate.
"We confirm that all people on board (the rig) have been evacuated with no known injuries. The majority of the crew have returned to Miri, except those remaining near the location to respond to the incident,” it said in a statement.

Malaysia , Kuching , Sarawak , Malaysian , Conocophilips-sarawak-ltd , Velesto-energy-bhd , Emergency-response-team , Seafarer-life-facebook , Perdana-marathon , Armada-tuah , Conoco-philips

Oil rig sinks off Miri, all 101 crew escape unscathed | Daily Express Online

Multinational oil and gas exploration company ConocoPhilips Sarawak Ltd has confirmed that the NAGA 7 jack-up drilling rig they chartered had listed on Monday (May 3) near Miri, about 840km north from here

Malaysia , Malaysian , Conocophilips-sarawak-ltd , Velesto-energy-bhd , Emergency-response-team , Seafarer-life-facebook , Perdana-marathon , Armada-tuah , Sabah , Ews , Ewspaper

Maybank Research lowers Velesto to sell

KUALA LUMPUR: Maybank Investment Bank Research has downgraded Velesto
to sell from buy and cut its target price to 11 sen or by 63% from 16 sen as it cut the earnings outlook due to the operational setback on its Naga 7 rig.
The research house said on Tuesday it had cut the FY21-23 earnings by 58%-144% and there was a change in view to reflect the uncertainty over the rig’s long-term availability at this juncture.
Based on various sources gathered, an unfortunate incident happened to Velesto’s Naga 7 rig during operations. One of its legs “punched through” during first preloading, which resulted in the rig tilting around 10 degrees.

Kuala-lumpur , Malaysia , Velesto-naga , Maybank-research , Maybank-investment-bank-research , Conocophillips , Perdana-marathon , Armada-tuah , குவாலா-லம்பூர் , மலேசியா , மேபேங்க்-ஆராய்ச்சி , மேபேங்க்-முதலீடு-வங்கி-ஆராய்ச்சி