Velesto gets RM50mil contract

PETALING JAYA: Velesto Energy Bhd’s sub-subsidiary Velesto Drilling Sdn Bhd has secured a contract from Vestigo Petroleum Sdn Bhd for the provision of a jack-up drilling rig.

In a filing with Bursa Malaysia, the group said the contract had an estimated value of US$10.9mil (RM50.27mil) and is expected to commence in the fourth quarter of 2023.