BUSINESS

Velesto bags US$135 mln North Malay Basin contract from Hess

07/11/2022 07:49 PM

KUALA LUMPUR, Nov 7 (Bernama) -- Velesto Energy Bhd’s wholly owned unit Velesto Drilling Sdn Bhd, has bagged a US$135 million (US$1 = RM4.74) contract from Hess Exploration And Production Malaysia B.V.

It said the contract was for the provision of integrated rig, drilling and completion (I-RDC) services for Hess’ 2022 to 2024 North Malay Basin full field development campaign.

“The contract is to provide I-RDC services covering 14 wells with an expected commencement date in the fourth quarter of 2022,” the oil and gas (O&G) offshore drilling services provider said in a filing with Bursa Malaysia today.

Velesto said the group would assign its jack-up rig NAGA 5 for the contract.

NAGA 5 is a premium independent-leg cantilever jack-up drilling rig with a drilling depth capability of 30,000 feet and a rated operating water depth of 400 feet.

-- BERNAMA

 


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on the Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on the FM93.9 (Klang Valley), FM107.5 (Johor), FM107.9 (Kota Kinabalu) and RM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2023 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy