PETALING JAYA: Velesto Energy Bhd says its subsidiary Velesto Drilling Sdn Bhd has received a letter of award from Petronas Carigali Sdn Bhd for the provision of jack-up drilling rigs.

       The contract is for two years and the job is expected to start in the first quarter of this year.

       It said the provision of its suite of Naga rigs on the requirement of Petronas Carigali was subject to the rig availability and suitability based on Petronas Carigali’s requirement.

       “The provision of the services, subject to call out by Petronas Carigali, is expected to contribute to the earnings and net assets of the Velesto Group during the contract period for the financial periods ending Dec 31, 2022 and 2023,” it said.