PETALING JAYA: Velesto Energy Bhd
’s rig utilisation rate is expected to face further pressure in 2025, unless new contracts are secured for its jack-up rigs.
The provider of drilling and oilfield services to the oil and gas industry plans to leverage downtime to accelerate required maintenance and upgrades for Naga 8 by the first quarter financial year 2025 (1Q25), so that the rig will meet inspection requirements until 2027.
