Velesto Energy, Carigali Hess agree to extend 10K drilling rig contract for another 18 months

KUALA LUMPUR: Velesto Energy Bhd’s wholly-owned subsidiary, Velesto Drilling Sdn Bhd, has mutually agreed for the extension of the Provision of 10K Jack-up Drilling Rig for 2020 Drilling Programme contract with Carigali Hess Operating Company Sdn Bhd for another 18 months worth US$74 million (US41=RM4.67).

In a filing with Bursa Malaysia today, Velesto Energy said the extension would commence from April 19, 2024 until Oct 18, 2025, subject to any further extension as may be mutually agreed upon between Velesto Drilling and Carigali Hess.