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apple developer enterprise account for rent:Velesto secures US$17.68mil contract

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KUALA LUMPUR: Velesto Energy Bhd (VEB) has secured a US$17.68mil for the provision of jack-up drilling rig services.

In a filing with Bursa Malaysia, VEB said Velesto Drilling Sdn Bhd, a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of VEB, has received a letter of award from Sarawak Shell Berhad / Sabah Shell Petroleum Company Limited.

“The contract is for VEB’s jack-up rig, namely NAGA 4, with an estimated contract value of US$17.68mil,” VEB said.

“The VEB Group will assign its NAGA 4 for this contract. The contract is to drill seven firm wells with expected commencement date between Aug 15, 2021 to Oct 15, 2021,” it added.

NAGA 4 is a premium independent-leg cantilever jack-up drilling rig that has a drilling depth capability of 30,000 feet and has a rated operating water depth of 400 feet.


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