Velesto bags US$131mil Carigali Hess drilling job

KUALA LUMPUR (Bernama): Drilling and oilfield service provider, Velesto Energy Bhd has bagged a contract from Carigali Hess Operating Company Sdn Bhd for the provision of 10K jack up drilling rig for 2020 drilling programme worth US$131mil.

The contract was secured through Velesto Drilling Sdn Bhd, a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd.

"Velesto group will assign NAGA 8 for this contract with an estimated contract value of US$131mil. The contract is expected to commence in the second half of 2020, for a duration of three years with three extension options of six months each,” it said in filing to Bursa Malaysia today.