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Velesto Energy wins $105m Petronas Carigali contracts

The one-year contracts with options for one plus one years are for four jack-up drilling rigs, starting from various periods between April and June. Velesto will use its rigs Naga 2, Naga 3, Naga 5 and Naga 6 for the jobs

The latest contracts should help improve rig utilisation, but at long-term rates not much better than previous ones

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