KUALA LUMPUR, March 26 -- Malaysian offshore drilling company Velesto Energy Bhd (VEB) has secured a contract to provide a jack-up drilling rig for ConocoPhillips worth US$8 million (RM33.1 million).
In a filing with Bursa Malaysia today, VEB said the contract is to drill up to three wells with the tentative commencement within the first half of 2021.
VEB said the contract was clinched through Velesto Drilling Sdn Bhd, a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of VEB.
VEB will assign its jack-up rig NAGA 7 for the contract. The rig is a premium independent-leg cantilever jack-up rig that has a drilling depth capability of 30,000 feet and has a rated operating water depth of 375 feet.
The provision of the contract is expected to contribute positively to the earnings and net assets of the VEB group for the financial period ending Dec 31, 2021.
The risks associated with the execution of the contract are operational and execution risks.
KUALA LUMPUR, Sept 22 -- Serba Dinamik Group Bhd, a provider of internet access through local satellite technology, has installed the Proof of Concept (POC) for Very Small Aperture Terminal (VSAT) satellite internet access in Kampung Betutai, Tuaran, Sabah to reduce the rural digital divide.
KUALA LUMPUR, Sept 20 -- MCE Holdings Bhd's wholly-owned subsidiary MCE Ventures Sdn Bhd (MVSB) has signed a memorandum of understanding (MOU) with China’s Chongqing Beidou Jiean Neo-Energy Technology Ltd (BDJA) to establish a joint venture (JV) for the electric vehicle business.
PUTRAJAYA, Sept 20 (Bernama) -- Sustainable Energy Authority Development (SEDA) Malaysia officially launched its 10th Anniversary celebration via online ceremony officiated by SEDA Malaysia’s Chairman, YB Tuan Lukanisman Awang Sauni.
The Authority, which was established in 2011 achieved its first decade of operation on 1st September this year. As a statutory body under the Ministry of Natural Energy and Resources (KeTSA), SEDA Malaysia is responsible for the development of the sustainable energy industry in Malaysia.
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