Velesto Energy Berhad’s subsidiary Velesto Drilling Sdn. Bhd. has received a Letter of Award from Roc Oil (Sarawak) Sdn Bhd for the Provision of Jack-Up Drilling Rig services which the group said was approved and received.
The Contract is for VEB’s jack-up rig, namely NAGA 2, with an estimated contract value of USD14 million or approximately RM60 million
The group said the contract is to drill three firm wells with an estimated commencement date between 25 January 2023 to 25 February 2023. VEB Group will assign its NAGA 2 for this Contract. NAGA 2 is a premium independent-leg cantilever jack-up rig with drilling depth capability of 30,000 feet and has a rated operating water depth of 350 feet.
VED is principally involved in the offshore drilling business and operations and other engineering services for oil and gas exploration, development, and production in Malaysia and overseas. ROC Oil is a company incorporated in Malaysia focuses on the undertaking of upstream oil and gas activities.
