Velesto bags $51m North Malay Basin contract

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Velesto Energy secured a $51 million contract from Hess, a Chevron subsidiary, to provide rig, drilling, and completion services in the North Malay Basin. The contract involves the deployment of the Naga 8 jackup rig, scheduled to start drilling operations in August.

Malaysia’s Velesto Energy has landed a contract from Hess, a Chevron subsidiary, to provide integrated rig, drilling, and completion services in the North Malay Basin. The contract, worth around $51m (RM208mil), was disclosed in a filing with Bursa Malaysia and was handed to the Naga 8 jackup rig, set to start drilling in August. Work …