KUALA LUMPUR (Nov 20): Velesto Energy Bhd (KL:VELESTO) said it is exploring the implementation of robotics and mechanised automation process for its drilling rig operations. 

The jack-up rig operator has inked a memorandum of understanding (MOU) with Petroliam Nasional Bhd (Petronas) through the Malaysia Petroleum, Management (MPM) and the National Oilwell Varco LP (NOV) for the implementation. 

The MOU aims to establish a collaborative framework that leverages NOV’s drilling automation system and other energy carbon optimisation solutions including robotics technology, on Velesto-operated rigs.

It aims to achieve cost efficiency, reduce emissions, and enhance operational performance and safety, Velesto said in a statement. 

Under the MOU, Petronas will provide steer and operational guidance on the deployment of the technology, whereas Velesto will oversee the integration and optimisation of these systems on its drilling rigs. 

NOV will provide technical support and training for local implementation and knowledge transfer, it added. 

Velesto has been investing on upgrading it rigs, including the installation of offline capabilities on two of its six rigs to undertake multiple scopes of activities at one time, thus shortening the charter days required for project completion. 

Shares of Velesto traded unchanged at 18.5 sen at the time of writing on Wednesday, giving it a market capitalisation of RM1.52 billion.