Velesto secures US$17.68mil contract

KUALA LUMPUR: Velesto Energy Bhd (VEB) has secured a US$17.68mil for the provision of jack-up drilling rig services.

In a filing with Bursa Malaysia, VEB said Velesto Drilling Sdn Bhd, a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of VEB, has received a letter of award from Sarawak Shell Berhad / Sabah Shell Petroleum Company Limited.