KUALA LUMPUR (March 4): Velesto Energy Bhd (KL:VELESTO), via its wholly owned subsidiary Velesto Workover Sdn Bhd, has secured two contracts from Sabah Shell Petroleum Company Ltd (SSPC) to provide maintenance services at its deepwater operations at offshore Sabah.
According to a statement on Wednesday, Velesto Workover will provide comprehensive maintenance services for the top tension risers at SSPC’s Tension Leg Platform, offshore Sabah, in which the works will be carried out in partnership with its principal, INVX Asia Pacific Pte Ltd.
Velesto Workover's principal activity is in the workover operations for the oil and gas industry.
The value of the contract was not disclosed.
The group noted that the multi-year contracts form part of Velesto’s progress to expand its integrated maintenance and engineering offerings within the upstream energy sector.
“This reflects our expertise to support their offshore activities and our consistent focus on sale and efficient operations. These projects help support the group’s long-term resilience by diversifying into a broader range of services,” said Velesto president Megat Zariman Abdul Rahim in the statement.
The job follows a US$157 million (RM617.4 million) five-year drilling contract win from PETRONAS Carigali Sdn Bhd, announced on Monday.