Tough year for Velesto despite pick-up in drilling rig activity

Moving ahead, a pick-up in drilling rig activity is seen.

PETALING JAYA: After a weak start in the first quarter ended March 31,2021, Velesto Energy Bhd is expected to see better quarters ahead.

But this, according to analysts, may not be enough to see the company, which is the largest jack-up drilling rig operator by fleet size, returning to the black in financial year 2021 (FY21).