Velesto unit awarded RM126m contract
Velesto Energy Bhd, formerly known as UMW Oil & Gas Corp Bhd, has been awarded a US$31.04 million (RM126 million) contract by Roc Oil (Sarawak) Sdn Bhd (ROC) for the provision of a jack-up drilling rig.
 
In a filing to Bursa Malaysia yesterday, the offshore drilling company noted its subsidiary, Velesto Drilling Sdn Bhd, will provide a jack-up drilling rig and associated services for ROC’s D35 phase two infill drilling programme.
 
The group’s NAGA 4 premium independent-leg cantilever jack-up drilling rig will be assigned for the contract.
 
The tentative commencement date of the contract is in August 2018 for 11 firm wells.