Velesto Energy wins RM125mil offshore drilling job

KUALA LUMPUR: Velesto Energy Bhd (VEB), formerly known as UMW Oil & Gas Corp Bhd, has secured an offshore drilling contract worth US$31.038mil (RM125mil) from Roc Oil (Sarawak) Sdn Bhd.

The contract is expected to commence in August for 11 firm wells.

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