Velesto Energy Wins ExxonMobil Contract for Offshore Services in Malaysia

Velesto Gait 6 - Credit: Velesto
Velesto Gait 6 - Credit: Velesto

Velesto Energy's subsidiary Velesto Workover has received a Letter of Award from ExxonMobil in Malaysia, for the provision of Gait 6 HWU & Services for 2023/2024 Workover and Plug & Abandonment Program.

"The value of this enabling Contract with no guarantee of call-offs shall be based upon the agreed rates and work order, if any, issued by [ExxonMobil] within the contract term.

Under the contract, Velesto will provide the Velesto Gait 6 hydraulic workover unit to perform workover, plugging, and abandonment, with a start date expected in the third quarter of the fiscal year 2023. The contract has a two-year duration.

VELESTO GAIT 6 is a hydraulic workover unit with maximum pulling and snubbing capacities of 460,000 lbs and 225,000 lbs respectively, capable for rigging up on offshore platforms to perform wells workover, plugging, and abandonment operations.

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