Velesto said it continues to benefit from rising regional demand for jack-up rigs and anticipates a more active second half of 2025.
PETALING JAYA: Velesto Energy Bhd
’s unit, Velesto Drilling Sdn Bhd, has clinched drilling contracts from PTTEP HK Offshore Ltd and PTTEP Sarawak Oil Ltd for the provision of one 10K jack-up drilling rig.
Under the contract valued at some US$40mil (RM167.94mil), Velesto will assign Naga 5, one of its premium jack-up rigs, to drill 15 wells with operations scheduled to commence in June 2025.
