Velesto likely to close 2021 with solid performance

This is an early sign of a recovering market while a robust oil and gas (O&G) drilling programme by Petroliam Nasional Bhd (Petronas) next year will validate this view, according to Maybank Research. “We are optimistic on Velesto’s outlook over the next 12 months, on stronger operations and financials ahead. Demand for jack-up rigs are rising and tenures are lengthening.

PETALING JAYA: Stronger demand for jack-up drilling rigs may indicate a recovery for Velesto Energy Bhd’s outlook moving forward.

This is an early sign of a recovering market while a robust oil and gas (O&G) drilling programme by Petroliam Nasional Bhd (Petronas) next year will validate this view, according to Maybank Research.