Malaysian oil and gas company Petronas has awarded a contract to the offshore services firm Velesto for the plugging and abandonment services at Tembungo A & B platforms offshore Sabah, Malaysia.
Velesto said Thursday that the contract had an estimated value of 60 million Malaysian ringgits (around $13,4 million).
The P&A campaign is set to last 21 months for the Tembungo-A campaign running until January 2024, with an extension option of 12 months for Tembungo-B tentatively from January 2024 until December 2024.
Velesto will be providing integrated project management and hydraulic workover unit services for the duration of the campaign.
The platforms are located at the Tembungo offshore oil and gas field, situated 75km from Kota Kinabalu, Sabah and 35 km northeast of Erb West field. The average water depth in the area is around 85 meters. First oil from Tembungo was produced in September 1974.