Malaysia’s oil and gas services firm Velesto Energy has secured a contract from Northern Gulf Petroleum (NGP) for the provision of jack-up drilling rig services offshore Thailand.
The contract was awarded to Velesto's wholly owned subsidiary, Velesto Sumber, and will see the company deploy its NAGA 6 jack-up rig for a drilling campaign in the Gulf of Thailand.
The firm scope of work includes the drilling of four infill wells and three exploration wells.
“We appreciate the confidence placed in Velesto by NGP. The award supports the continued utilization of our premium jack-up rigs and is expected to contribute positively towards earnings.
“The contract award further strengthens Velesto’s drilling segment and reflects continued ability to secure opportunities across our core operating markets amid ongoing offshore development and exploration activities in the region,” said Megat Zariman Abdul Rahim, President of Velesto.
Velesto operates a fleet of six wholly-owned jack-up drilling rigs and two hydraulic workover units.