Gulf Oil and Gas accountACCOUNT

Velesto Drilling Awarded Contracts by PETRONAS for Drilling Offshore Malaysia

Source: www.gulfoilandgas.com 9/6/2019, Location: Asia

Velesto Energy (VEB) has announced that Velesto Drilling (VED) (formerly known as UMW Offshore Drilling), a wholly-owned subsidiary of VEB, has been awarded four contracts by PETRONAS Carigali (PCSB), for the provision of jack up drilling rigs services. All the awarded contracts will commence from April 2019 onwards for a firm duration of one (1) year, with an option of an additional one (1) plus one (1) year extension for each of the contracts.

Commenting on the award, Rohaizad Darus, President of Velesto Energy Berhad said, 'We must thank PETRONAS for their continued support and trust in local service providers in addressing increased activities in the exploration and production sector. I believe the drilling segment of the oil and gas industry is seeing brighter days ahead as evidenced by the increased in global activities to address industry’s declining reserves and production.'

The contracts which carry a cumulative value of over US$104.7 million for the first one year firm period will see four (4) premium jack-up drilling rigs from Velesto Energy Berhad’s fleet; NAGA 2, NAGA 3, NAGA 5 and NAGA 6 taking part in PCSB’s drilling campaign located in Malaysian waters.

'Now that the baseline revenue stream is secured, we can give more attention to further improving our bottom line by continuous cost control and increasing operational and financial efficiencies. It will also give us the opportunity to develop the global market for the rest of the drilling rigs,' added Rohaizad.

Rigs >>

Rigs News in Malaysia >>

Malaysia >>  7/7/2020 - Icon Offshore is in the process of negotiating the acquisition of Perisai Petroleum Teknologi’s jack-up drilling rig. The company was currently negoti...
South Africa >>  7/2/2020 - Africa Energy Corp., an oil and gas company with exploration assets offshore South Africa, is pleased to announce that the Odfjell Deepsea Stavanger s...

United States >>  7/2/2020 - Baker Hughes international rig count for June 2020 was 781 down 24 from the 805 counted in May 2020, and down 357 from the 1,138 counted in June 2019....
Suriname >>  6/30/2020 - Maersk Drilling has secured a contract for the semi-submersible rig Maersk Developer which will be employed by PETRONAS Suriname Exploration & Product...

United States >>  6/30/2020 - Vantage Drilling International has entered into a contract with Eni Montenegro BV for its premium jackup rig, the Topaz Driller, to perform drilling s...
Qatar >>  6/25/2020 - LOC Group, the premier international marine and engineering consulting firm, has been awarded a Master Service Agreement by Seafox Qatar LLC, a leadin...

Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


Malaysia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.