Velesto gets RM60.6mil drilling rig services contract

PETALING JAYA: Velesto Energy Bhd, via its unit Velesto Drilling Sdn Bhd has received a letter of award worth RM60.6mil from PTTEP HK Offshore Ltd, PTTEP Sabah Oil Ltd and PTTEP Sarawak Oil Ltd (PTTEP) for the provision of one 10,000 jack-up drilling rig.

In a filing with Bursa Malaysia, Velesto said the contract is for the provision of drilling rig services for PTTEP's drilling programme, whereby Velesto will assign its NAGA 3 for the job.

“The contract is to drill two firm wells and is expected to commence in February 2023.”