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Velesto Drilling Secures $51 Million Contract with Chevron for North Malay Basin Development

Aug 26, 2026•about 5 hours ago

Contract Type

contract

MalaysiaEnergyOil And Gas

Description

Velesto Drilling has been awarded a contract by Chevron Malaysia for integrated rig, drilling and completion services for the North Malay Basin Full Field Development Campaign set for 2026-2028. The contract, valued at approximately $51 million, represents Velesto's second award supporting this significant development program.

Company Information

Company

Velesto

Location

Malaysia

About

Velesto is a drilling and oilfield services company based in Malaysia. It provides innovative and efficient solutions to drilling challenges and is recognized for its technological advancements in the energy sector. Velesto is committed to sustainable practices and effective resource management. The company operates mainly in Southeast Asia, supporting its regional energy demands.

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