Hess Hires Velesto for Drilling Services in Malaysia

Monday, November 7, 2022

Malaysia's Velesto Energy has secured a $135 million integrated rig, drilling, and completion services deal with Hess Corp. in Malaysia.

The i-RDC is a concept in which integration of drilling rig services, equipment and in some cases procurement of materials for drilling & completion services are covered under a single contract between the operator or oil company, as the owner of the project, and one service company as an i-RDC contractor.

The I-RDC services deal is for Hess’ 2022 to 2024 North Malay Basin Full Field Development Campaign. Velesto will deploy NAGA 5 jack-up rig.

President of Velesto, Megat Zariman Abdul Rahim said, “The i-RDC services contract is the first jack-up rig drilling contract to be awarded through an i-RDC arrangement in Malaysia."

We are partnering with Halliburton as our technical partner to provide these services to drill and complete 14 offshore wells."


Categories: Drilling Industry News Activity Asia Drilling Rigs

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