Velesto Energy bags two new contracts

KUALA LUMPUR: Velesto Energy Bhd has announced two contracts secured by its subsidiaries for the provision of a jack-up drilling rig and hydraulic workover unit.

In a filing with Bursa Malaysia, the group said its sub-subsidiary Velesto Drilling Sdn Bhd was awarded a contract by Jadestone Energy (Malaysia) Pte Ltd for the provision of a jack-up drilling rig for the latter's infill drilling programme at its operated East Belumut field.